New Jersey Statutes 52:27H-99. Definitions, designation of qualified business
Terms Used In New Jersey Statutes 52:27H-99
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
“Eligible block group” means a block group that is located in an enterprise zone on the effective date of P.L.2021, c.197.
b. The UEZ Authority shall notify each qualified municipality of each eligible block group within the municipality no later than 14 days after the effective date of P.L.2021, c.197. The UEZ Authority shall then certify the final eligible block groups to each municipality and shall post a link to a list of eligible block groups on the UEZ Authority’s Internet homepage on the Department of Community Affair’s Internet website.
c. A qualified business shall be located in an eligible block group. The certification of a qualified business that was certified as a qualified business on the effective date of P.L.2021, c.197 shall expire at the end of the 10th State fiscal year following the effective date of P.L.2021, c.197. However, the UEZ Authority may at any time revoke a certification if the UEZ Authority shall determine that the seller no longer complies with the provisions of P.L.1983, c.303 (C. 52:27H-60 et seq.).
d. The certification of a qualified business located in an eligible block group after the effective date of P.L.2021, c.197 shall expire at the end of the 10th State fiscal year following the State fiscal year in which the business was first certified as a qualified business. A business whose certification has expired shall not be eligible to seek a new certification.
L.2021, c.197, s.12.