Government & Public Policy
Business, government leaders mourn longtime BPU chief Joe Fiordaliso
Joe Fiordaliso, the longtime president of the New Jersey Board of Public Utilities and a key figure in the state’s policy focus on renewable energy, died Wednesday at age 78.
Greater sunshine ahead or an incoming storm? Preparing for corporate transparency act compliance in 2024
For decades, the real estate industry has been particularly adept at using various corporate structures such as limited liability companies, limited partnerships and corporations in order to maximize the numerous liability and privacy protections and tax benefits afforded to such businesses. Commencing Jan. 1, 2024, however, many U.S. businesses will be required to disclose (and update) information with respect to their beneficial ownership to the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) pursuant to the Corporate Transparency Act (the CTA), giving rise to many privacy and regulatory concerns.
The CTA will apply to tens of millions of new and existing businesses throughout the country, including many real estate businesses, individual and family investment vehicles, and smaller private companies and joint ventures.
BPU adopts permanent community solar program after successful pilot period
A state pilot program that has brought solar panels and new revenue to dozens of New Jersey industrial buildings is now permanent after a recent vote by utility regulators.
EDA to launch $10 million Food Desert Relief Act tax credit auction
A program that could spur the construction of new supermarkets in New Jersey is taking shape after key steps by the state Economic Development Authority.
Adaptation
The glory days of near-zero vacancy and hard-to-fathom rent growth in the industrial market always came with the slightest bit of tension, especially among veteran landlords who know full well that nothing lasts forever. And with good reason, as we now know, as the asset class grapples with new headwinds that may not have seemed likely only two years ago.
