Skip to Content
Streetsblog USA home
Streetsblog USA home
Log In
Development

Menendez Proposes Tax Credit for Transit-Oriented Development

New construction projects that are within a half-mile of transit stations and exceeding national energy-efficiency standards would be eligible for a tax credit under legislation introduced today by Sen. Robert Menendez (D-NJ), the senior member of the Banking Committee's transit panel.

menendez.jpgSen. Robert Menendez (D-NJ) (Photo: Paterson Online)

Menendez's "green buildings" tax credit is aimed at spurring denser development in both rural and urban areas, particularly mixed-use properties that allow residents to walk between home, work, and other daily errands.

Construction projects claiming the 30 percent credit would have to meet several criteria, including the half-mile proximity to transit, the energy-efficiency minimums, and a requirement that at least 5 percent of any apartment properties be more affordable housing.

The credit could not be claimed until the year the development in question is completed, leaving the bill without an immediate cost to the Treasury.

The bill was immediately endorsed by the non-profit transit advocacy group Reconnecting America. The group's president, John Robert Smith, said in a statement that Menendez's plan "will help to meet this growing demand" for more transit-oriented, walkable development.

Stay in touch

Sign up for our free newsletter

More from Streetsblog USA

The Missing Ingredients in America’s ‘Minimobility’ Revolution

Cargo trikes, GEMs, bike rickshaws, and other light electric vehicles could help wean America off cars — but a new grant that could help cities encourage their adoption is being paused by the Trump administration.

February 11, 2025

Who Benefits from Trump ‘Birthrate’ Funding Scheme? Wealthier, Whiter Drivers

This prioritization lacks evidence of how it will meet the memo’s stated purpose to “bolster the American economy and benefit the American people.”

February 11, 2025

Tuesday’s Headlines Man the Barricades

After the deadly New Year's Eve truck attack in New Orleans, how can cities better protect pedestrians from increasingly heavy and powerful vehicles?

February 11, 2025

Trump Can’t Legally Kill Congestion Pricing, But When Has That Ever Stopped Him?

New York's leaders can't take Donald Trump's threats to congestion pricing, and the constitutional order, lying down — but they might anyway.

February 11, 2025

Op-Ed: Amtrak Isn’t Profitable — And That’s Okay

"As a for-profit company, Amtrak fails ... spectacularly. As a government agency, created half a century ago to carry out a public purpose recognized in law and in Supreme Court rulings, it is a spectacular success worth celebrating, supporting, and building up."

February 10, 2025
See all posts