Gov. Chris Christie on Tuesday signed into law a key piece of legislation that is expected to support Rutgers University's recently announced athletics facilities plan.

The legislation will enable Rutgers to make use of up to $25 million in tax credits to finance the construction of modern athletic facilities.

The bill (S2880) -- co-sponsored by state Sen. Raymond Lesniak (D-Union) and Senate Minority Leader Tom Kean Jr., (R-Union) -- sailed through the upper house of the New Jersey Legislature in June.

On Jan. 11, the state Assembly advanced the companion bill (A4704), co-sponsored by Assemblyman Patrick Diegnan (D-Middlesex) and John Wisniewski (D-Middlesex), by a wide margin.

"Thanks to Governor Christie, my colleagues in the legislature and thousands of alumni and Rutgers supporters, my legislation providing $25 million in tax credits for upgrading Rutgers athletic facilities has been signed into law,'' Lesniak said in a statement provided to NJ Advance Media. "A (Big Ten) quality athletic program attracts financial support for Rutgers and the State of New Jersey and enhances the Rutgers brand throughout the country.

"There is still more work to do, but having the support of the state government, Democrats and Republicans, will help make Rutgers athletic facilities (Big Ten) quality for all sports and help recruiting efforts."

The bill provides up to $25 million in tax credits under Economic Redevelopment and Growth Grant Program for certain infrastructure at Rutgers, which last June announced a plan to upgrade its athletics facilities with a series of projects that would support the 24-team program.

To accommodate the additional tax credits without adversely affecting previously created ERG tax credit program categories, the bill will raise the total ERG tax credit program cap from $600 million to $625 million.

According to the bill description, "ERG tax credit awards are authorized for taxpayer use in up to 10 equal annual installments following project completion, must close a project financing gap that otherwise would be likely to prevent a project's realization, and cannot exceed 30 percent of total project cost in conjunction with any municipal ERG award. The application deadline is July 1, 2016 and, according to the law, Rutgers would be required to contribute at least 20 percent of the cost and would have to make use of the credits within five years.

In May, Lesniak commissioned a formal study that pointed to the economic benefits of Rutgers' entrance into the Big Ten Conference. The Econsult Solutions-produced report, which recommended that the state university invest in a potentially $100 million upgrade to its athletics facilities, found that investments in collegiate athletics can contribute to successful sports teams which, in turn, can generate alumni donations and corporate contributions to the sports programs and the school.

Aside from the economic impact, the report cited the academic benefits that serve to attract and retain more students, more applicants and greater student achievement.

PLUS: Lesniak on Rutgers athletics facilities plan: 'It certainly can be done'

"Rutgers is a world-class university that is now competing in the Big 10, offering the school and the state the opportunity to reap immediate and long-term benefits," Lesniak said. "We should have the facilities needed to make that happen. These tax breaks are available for economic growth and that is what they will be used for by Rutgers. An economic study by an independent firm found that athletic facilities are important to successful college sports programs and help produce economic and academic benefits for the university and the state."

Here's a link to the athletics plan: Rutgers Athletics Final 6 18 15.pdf

In June, Rutgers officials approved a wide-ranging plan to upgrade the athletics facilities on the New Brunswick and Piscataway campuses. The plan calls for a multi-use facility to satisfy the men's and women's basketball programs, as well as the majority of the other 24 Scarlet Knights teams. It would be built atop and around a parking deck adjacent to the 38-year old Rutgers Athletic Center.

In addition, the plan calls for the Rutgers football program to take over the Hale Center while the soccer and lacrosse programs would either move to the bowels of the south-end zone bleachers in High Point Solutions Stadium or into a new building adjacent to Yurcak Field on the Busch Campus.

Rutgers President Robert Barchi declined to specify the price tag, but multiple people familiar with the plan have told NJ Advance Media in recent weeks the initial three projects would cost between $105 million and $125 million.

Keith Sargeant may be reached at ksargeant@njadvancemedia.com. Follow him on Twitter @KSargeantNJ. Find NJ.com Rutgers Football on Facebook.