New Jersey Extends Permit Extension Act Another Year

New Jersey Governor Chris Christie re-extended New Jersey's Permit Extension Act, N.J.S.A. 40:55D-136.1 et seq., for a third time by enacting Assembly Bill 3815. This legislation extends the tolling of the approval period for certain real estate development permits until December 31, 2015, as long as the permits were valid and in effect on or after January 1, 2007. The Permit Extension Act was originally enacted in 2008, and it was subsequently extended in 2010 and again in 2012. While the previous extensions granted two-year reprieves for permits, the most recent extension provides only one additional year of tolling.

The Act's extension of permits is intended to promote the resurgence of New Jersey's economy after the recession. Obtaining governmental approvals for development projects can be a lengthy and complicated process. Under the Act, projects that had received approvals but were placed on hold during the economic downturn can proceed under those same permits