3. The authority shall designate a classification known as a “UEZ-impacted business district” for a municipality which can demonstrate to the authority that its business district is economically distressed and is being negatively impacted by the presence of two or more adjacent enterprise zones in which 50 percent less sales tax is collected pursuant to section 21 of P.L.1983, c. 303 (C. 52:27H-80). Following the effective date of P.L.2021, c.197 (C. 52:27H-79.1 et al.), the UEZ Authority shall not designate a business district as a UEZ-impacted business district. Any designation as a UEZ-impacted business district existing on the effective date of P.L.2021, c.197 (C. 52:27H-79.1 et al.) shall expire on the first day of the third year next following the effective date of P.L.2021, c.197 (C. 52:27H-79.1 et al.).

L.2001, c.347, s.3; amended 2021, c.197, s.3.