We study the near horizon 2D gravity theory which captures the near extremal thermodynamics of Banados-Teitelboim-Zanelli (BTZ) with excess mass $\ensuremath{\delta}M$ and excess angular momentum $\ensuremath{\delta}J=\mathcal{L}\ensuremath{\delta}M$ over extremality. We find that the Jackiw-Teitelboim theory is able to capture such departures from extremality with an additional parameter $\mathcal{L}$ relating it to the near extremal BTZ configuration. We are able to show this by obtaining new simultaneous near horizon near extremal limits of the BTZ geometry parametrized by $\mathcal{L}$. The resulting Jackiw-Teitelboim theory captures the near extremal thermodynamics of such BTZ geometries provided we identify the temperature ${T}_{H}^{(2)}$ of the ${\mathit{AdS}}_{2}$ geometry in the Jackiw-Teitelboim theory to be ${T}_{H}^{(2)}={T}_{H}/(1\ensuremath{-}\ensuremath{\mu}\mathcal{L})$, where ${T}_{H}$ is the BTZ temperature and $\ensuremath{\mu}$ its chemical potential with $\ensuremath{\mu}\mathcal{L}<1$.
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