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S 1422 - Authorizes Taxpayers to Accelerate Depreciation of Eligible Property Expenditures in Connection with Construction of New Affordable Housing Developments - New Jersey Key Vote

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Title: Authorizes Taxpayers to Accelerate Depreciation of Eligible Property Expenditures in Connection with Construction of New Affordable Housing Developments

Signed by Governor Phil Murphy


See How Your Politicians Voted

Title: Authorizes Taxpayers to Accelerate Depreciation of Eligible Property Expenditures in Connection with Construction of New Affordable Housing Developments

Vote Smart's Synopsis:

Vote to pass a bill that authorizes taxpayers to accelerate depreciation of eligible property expenditures in connection with construction of new affordable housing developments in order to realize cost savings in Jew Jersey.

Highlights:

  • Authorizes taxpayers to depreciate a percentage of eligible property expenditures over a 10-year period (Sec. 1). 

  • Specifies calculation of depreciated percentage of eligible property expenditures as, 2 times the number of affordable housing units divided by the total number of non-affordable housing units in the development (Sec. 1B).

  • Defines affordable housing development as one where construction starts after the pending legislature of this bill (Sec. 1D).

Full Bill Text

See How Your Politicians Voted

Title: Authorizes Taxpayers to Accelerate Depreciation of Eligible Property Expenditures in Connection with Construction of New Affordable Housing Developments

Vote Smart's Synopsis:

Vote to pass a bill that authorizes taxpayers to accelerate depreciation of eligible property expenditures in connection with construction of new affordable housing developments in order to realize cost savings in Jew Jersey.

Highlights:

  • Authorizes taxpayers to depreciate a percentage of eligible property expenditures over a 10-year period (Sec. 1). 

  • Specifies calculation of depreciated percentage of eligible property expenditures as, 2 times the number of affordable housing units divided by the total number of non-affordable housing units in the development (Sec. 1B).

  • Defines affordable housing development as one where construction starts after the pending legislature of this bill (Sec. 1D).

Full Bill Text

Title: Authorizes Taxpayers to Accelerate Depreciation of Eligible Property Expenditures in Connection with Construction of New Affordable Housing Developments

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