Neighborhood Revitalization Tax Credit Program

Since its inception in 2002, the Neighborhood Revitalization Tax Credit (NRTC) program has become one of the most successful public/private programs furthering community development and neighborhood change in New Jersey. The NRTC was designed by the Housing and Community Development Network of New Jersey, authorized by the New Jersey Legislature in 2002, and is administered by the state Department of Community Affairs (DCA). The program offers business entities who invest in the revitalization of eligible low- and moderate-income neighborhoods an 80 percent tax credit against various state taxes. Program-wide, a total of $15 million per year is available in tax credits, with a maximum of $1 million available per neighborhood, so that $18.5 million is available for community-driven plans overall.

NJ Spotlight Op-Ed: A Tax Credit Program That Works, Creates Jobs, and is Well-Run