Gibbons Law Alert

Gibbons Law Alert

Tagged: New Jersey

New Jersey Bulk Sales Act — Applicable to Deeds in Lieu?

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Posted in Transactional Real Estate and Leasing

On June 28, 2010

Does the NJ Bulk Sales Act Apply to Deeds in Lieu? The Bulk Sales Act, NJSA 54:50-38, was expanded a couple years ago to cover transactions in which any seller makes a bulk sale, not just sellers who collect and remit sales tax. The Bulk Sales Act, NJSA 54:50-38, was expanded a couple years ago to cover transactions in which any seller makes a bulk sale, not just sellers who collect and remit sales tax. It provides: a buyer who does not comply by requesting a clearance letter and holding an escrow as directed by the Division of Taxation becomes liable for seller’s tax liability to the State, now including income taxes arising from the bulk sale itself in addition to past due taxes; bulk sale means any sale, transfer or assignment, in whole or in part, of a persons business assets, not made in the ordinary course of business; and business assets is defined to mean realty if the primary use of the realty is to support a business on the premises.

NJ Assembly Passes “Time of Application” Bill

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Posted in Transactional Real Estate and Leasing

On March 18, 2010

On March 15, 2010, the New Jersey Assembly passed A-437, the “Time of Application” bill, by a vote of 52-15. The bill, which takes effect one year following enactment, provides that those development regulations which are in effect on the date of submission of an application for development shall govern the review of that application for development, and any decision made with regard to that application for development. A-437 now heads to the Governor’s desk.

Assembly Bill Would Bar New Jersey Agencies From Exceeding Federal Standards in Rulemaking

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Posted in Environmental and Green Issues

On March 11, 2010

A bill introduced on March 8, 2010, by Assemblyman John J. Burchizelli, and voted out of the Assembly Regulatory Oversight and Gaming Committee would prohibit all State agencies from adopting — or even proposing — regulatory standards tighter than those imposed by the federal government, unless such action is specifically authorized by State law. The measure, Assembly Bill No. 2486, would greatly affect environmental regulation, where federal law often sets nationally applicable requirements, but does not preempt State requirements that go beyond the federal “floor.” The bill does not define the key term “specifically authorized by State law.” It would not apply to regulations in effect on the date of its enactment, or to the readoption of such regulations in the future.

Executive Order on Council on Affordable Housing (COAH) and S-1, Legislation to Abolish COAH

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Posted in Development/Redevelopment

On February 11, 2010

On February 9, 2010, Governor Chris Christie issued an Executive Order stopping all work for ninety (90) days on the processing of applications for substantive certification or implementation of the Third Round regulations by the Council on Affordable Housing (COAH). The Executive Order also creates a five-member Housing Opportunity Task Force which is tasked with producing a public report with analysis and recommendations regarding the current COAH rules within 90 days.

Determining What Standards Apply to Your Site Just Got Easier

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Posted in Environmental and Green Issues

On January 28, 2010

Without changing a single standard, NJDEP may have made it easier to comply with its many surface water, groundwater, drinking water, and soil remediation standards by compiling a useful on-line compendium of selected environmental standards. Standards can change, though, so the prudent developer, consultant, or attorney will check the New Jersey Administrative Code before making any decisions.

Lesniak Announces Hearing Date for COAH Reform Legislation

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Posted in Development/Redevelopment

On January 28, 2010

Senator Raymond J. Lesniak announced that on Monday, February 1, the Senate Economic Growth Committee, which he chairs, will begin hearing testimony on his Bill S-1, co-sponsored by Senator Bateman. S-1 would abolish the Council on Affordable Housing (COAH) and establish a streamlined and simple process to comply with NJ Supreme Court mandates that require every municipality maintain a fair share of low- and moderate-income housing.

Governor Christie’s Department of Environmental Protection Transition Subcommittee Issued Final Report

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Posted in Environmental and Green Issues

On January 26, 2010

Governor Christie’s Department of Environmental Protection Transition Subcommittee issued its Final Report on January 15, 2010. The Report calls for significant changes in policies and practices in order to meet three overarching goals: “1) accelerate improvements to the environment, 2) remove unnecessary obstacles to economic growth and 3) more effectively manage limited fiscal and human resources.”

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