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04/27/09
Expand tax credit program to encourage building

The Urban Transit Hub Tax Credit Act should be expanded so that any town with a train station can offer the credits to job-creating businesses. The act is designed to encourage economic growth in the most environmentally responsible ways.

Developing near train stations encourages commuting via mass transit, instead of the use of cars. Train stations often are located in highly developed areas, so new development can be accomplished without construction on ran lawn or environmentally damaging construction of infrastructure.

The current law only allows the credits to be offered to nine cities. We can create more jobs during this recession by expanding the program to cover all urban areas with stations serving commuters. Senate bill S-1466, sponsored by Sen. Joseph Kyrillos (R-Middletown) and myself, would allow any town with a train station to benefit from offering the tax credits. I call on Gov. Jon S. Corzine to put the weight of his office behind this timely economic growth proposal.

This opinion/editorial appeared in NJBiz on April 27, 2009.

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