Bill A746/S503 (formerly A1601)
Sponsored by:
Assemblyman GREGORY P. MCGUCKIN
District 10 (Ocean)
Assemblyman JOHN CATALANO
District 10 (Ocean)
SYNOPSIS
Requires installation of emergency power supply systems to certain common areas of new planned real estate developments; provides related tax incentives.
STATEMENT
This bill would require the installation of an emergency power supply system to supply standby power to each clubhouse or community room in a new common interest community. Hurricane Sandy resulted in prolonged power outages throughout the State of New Jersey and surrounding areas. While Hurricane Sandy is the most recent and prominent example of extended power outages caused by extraordinary weather conditions, it was not an isolated occurrence with regard to extended power outages.
Many parts of New Jersey have been developed as common interest communities. Although these planned communities may isolate residential dwellings from public and commercial buildings, these communities often contain clubhouses or other facilities that could be used as a shelter during times of emergency.
By requiring new common interest communities to equip clubhouses and community rooms with an alternate source of electrical power, the bill will provide residents of these communities with a centrally-located, well-powered shelter to better wait-out future power outages. While this bill would not require existing common interest communities to retrofit their clubhouses and community rooms with emergency power supply systems, the sponsors recommend and encourage these communities to do so.
In recognition of the quasi-public purpose of this initiative, the bill provides a corporation business tax deduction and gross income tax deduction (not to exceed $10,000 in either case), and a sales tax exemption, for the purchase of equipment necessary for the installation of emergency power supply systems by developers of new common interest communities as required under the bill.
Bill A746/S503 (formerly A1601)
Sponsored by:
Assemblyman GREGORY P. MCGUCKIN
District 10 (Ocean)
Assemblyman JOHN CATALANO
District 10 (Ocean)
SYNOPSIS
Requires installation of emergency power supply systems to certain common areas of new planned real estate developments; provides related tax incentives.
STATEMENT
This bill would require the installation of an emergency power supply system to supply standby power to each clubhouse or community room in a new common interest community. Hurricane Sandy resulted in prolonged power outages throughout the State of New Jersey and surrounding areas. While Hurricane Sandy is the most recent and prominent example of extended power outages caused by extraordinary weather conditions, it was not an isolated occurrence with regard to extended power outages.
Many parts of New Jersey have been developed as common interest communities. Although these planned communities may isolate residential dwellings from public and commercial buildings, these communities often contain clubhouses or other facilities that could be used as a shelter during times of emergency.
By requiring new common interest communities to equip clubhouses and community rooms with an alternate source of electrical power, the bill will provide residents of these communities with a centrally-located, well-powered shelter to better wait-out future power outages. While this bill would not require existing common interest communities to retrofit their clubhouses and community rooms with emergency power supply systems, the sponsors recommend and encourage these communities to do so.
In recognition of the quasi-public purpose of this initiative, the bill provides a corporation business tax deduction and gross income tax deduction (not to exceed $10,000 in either case), and a sales tax exemption, for the purchase of equipment necessary for the installation of emergency power supply systems by developers of new common interest communities as required under the bill.
