Title 34, Title 34: LABOR AND WORKMEN'S COMPENSATION

34:1B-273 Corporation business tax credit transfer certificate program, insurance premiums tax credit transfer certificate program. 5. a. The authority shall, in cooperation with the director, establish and administer a corporation business tax credit transfer certificate program…

34:1B-274 Rules, regulations. 6. a. The authority shall, in consultation with the officer and the director, promulgate rules and regulations in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), as the officer deems necessary to administer t…

34:1B-275 Rules for recapture of tax credit amount. 7. a. The authority, in collaboration with the director, shall adopt rules for the recapture of an entire or partial tax credit amount allowed under sections 2 through 8 of P.L.2020, c.156 (C.34:1B-270 through C.34:1B-276). The …

34:1B-276 Written report. 8. On or before December 31 of the fourth year following the effective date of sections 2 through 8 of P.L.2020, c.156 (C.34:1B-270 through C.34:1B-276), the authority, in consultation with the officer and the director, shall prepare and submit a written…

34:1B-277 Short title. 9. Sections 9 through 19 of P.L.2020, c.156 (C.34:1B-277 through C.34:1B-287) shall be known and may be cited as the "Brownfields Redevelopment Incentive Program Act." L.2020, c.156, s.9.

34:1B-278 Definitions. 10. As used in sections 9 through 19 of P.L.2020, c.156 (C.34:1B-277 through C.34:1B-287): "Authority" means the New Jersey Economic Development Authority established by section 4 of P.L.1974, c.80 (C.34:1B-4). "Board" means the Board of the New Jersey Econ…

34:1B-279 Brownfields Redevelopment Incentive Program. 11. The Brownfields Redevelopment Incentive Program is established as a program under the jurisdiction of the New Jersey Economic Development Authority. The purpose of the program is to compensate developers of redevelopment …

34:1B-28. Programs to promote motion picture and television industry The Motion Picture and Television Development Commission shall prepare and implement programs to promote a motion picture and television industry within the State. Such a program shall include but not be limited…

34:1B-280 Application for tax credit. 12. a. A developer seeking a tax credit for a redevelopment project shall submit an application to the authority and the department in a form and manner prescribed in regulations adopted by the authority, in consultation with the department, …

34:1B-281 Redevelopment agreement. 13. a. Following approval of an application by the board, but prior to the start of any remediation or clean up at the site of the redevelopment project, except activities disclosed at the time of approval or those in accordance with section 12 …

34:1B-282 Qualification for tax credit. 14. In addition to the submission of any additional evidence that the authority may request to verify that activities comply with local, state, and federal regulations, to qualify for a tax credit under the program, a developer shall, as ap…

34:1B-283 Update of status of redevelopment project. 15. Commencing with the date six months following the date the authority and a developer execute a redevelopment agreement and every six months thereafter until completion of the project, the developer shall submit an update of…

34:1B-284 Certification upon completion of redevelopment project. 16. a. Upon completion of the remediation, the developer shall seek certification from the authority, in consultation with the department, that: (1) the remediation is complete; (2) the developer complied with the …

34:1B-285 Application for tax credit transfer certificate. 17. a. A developer may apply to the director and the chief executive officer of the authority for a tax credit transfer certificate, during the privilege period in which the director awards the developer a tax credit purs…

34:1B-286 Report by State colleges, universities. 18. Beginning the year next following the year in which sections 9 through 19 of P.L.2020, c.156 (C.34:1B-277 through C.34:1B-287) take effect and every two years thereafter, a State college or university established pursuant to c…

34:1B-287 Regulations. 19. a. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to the contrary, the chief executive officer of the authority, in consultation with the Commissioner of Environmental Protection, may adopt, i…

34:1B-288 Short title. 20. Sections 20 through 34 of P.L.2020, c.156 (C.34:1B-288 through C.34:1B-302) shall be known and may be cited as the "New Jersey Innovation Evergreen Act." L.2020, c.156, s.20.

34:1B-289 Definitions. 21. As used in sections 20 through 34 of P.L.2020, c.156 (C.34:1B-288 through 34:1B-302): "Authority" means the New Jersey Economic Development Authority established by section 4 of P.L.1974, c.80 (C.34:1B-4). "Director" means the Director of the Division o…

34:1B-29. Severability If any section, part, phrase, or provision of this act or the application thereof to any person, project or circumstances, be adjudged invalid by any court of competent jurisdiction, such judgment shall be confined in its operation to the section, part, phr…

34:1B-290 New Jersey Innovation Evergreen Program. 22. The New Jersey Innovation Evergreen Program is established as a program under the jurisdiction of the New Jersey Economic Development Authority. The purpose of the program is to invest in innovation as a catalyst for economic…

34:1B-291 "New Jersey Innovation Evergreen Fund." 23. a. The authority shall establish and maintain a dedicated fund to be known as the "New Jersey Innovation Evergreen Fund." The authority shall use the money in the fund to carry out the purposes enumerated in subsections b. and…

34:1B-292 Sale, tax credits. 24. a. The authority shall sell the tax credits authorized pursuant to section 22 of P.L.2020, c.156 (C.34:1B-290) to purchasers through a competitive auction process. b. The authority shall determine the form and manner in which potential purchasers …

34:1B-293 Contract between purchaser and authority. 25. a. A purchaser that submits a successful bid for the purchase of tax credits pursuant to section 24 of P.L.2020, c.156 (C.34:1B-292) shall enter into a contract with the authority that includes payment information and the co…

34:1B-294 Application, credit, State tax liability. 26. a. A purchaser shall apply a credit awarded pursuant to sections 20 through 34 of P.L.2020, c.156 (C.34:1B-288 through 34:1B-302) against the purchaser's State tax liability due pursuant to section 5 of P.L.1945, c.162 (C.54…

34:1B-295 Application, tax credit transfer certificate. 27. a. A purchaser may apply to the authority and the director for a tax credit transfer certificate in lieu of the purchaser being allowed to apply any amount of the tax credit against the purchaser's State tax liability. A…

34:1B-296 Application process. 28. a. The authority shall establish an application process and determine the form and manner through which a venture firm may make and file an application for certification as a qualified venture firm. The authority may accept applications on a rol…

34:1B-297 Criteria for qualified venture firm. 29. a. The authority shall certify or refuse to certify a venture firm as a qualified venture firm based on the criteria for certification set forth in section 28 of P.L.2020, c.156 (C.34:1B-296), and subsections b. and c. of this se…

34:1B-298 Allocation of money to venture firms. 30. a. (1) The authority is authorized to allocate money credited to the fund to one or more qualified venture firms for qualified investments at the times, in the amounts, and subject to the terms and conditions that the authority …

34:1B-299 Report by venture firm. 31. a. A qualified venture firm shall annually report to the authority: (1) the amount of the qualified investment, if any, uninvested at the end of the preceding calendar year; (2) all qualified investments made during the preceding calendar yea…

34:1B-3 Definitions. 3. As used in the provisions of P.L.1974, c.80 (C.34:1B-1 et seq.), P.L.1979, c.303 (C.34:1B-5.1 et seq.), sections 50 through 54 of P.L.2000, c.72 (C.34:1B-5.5 through 34:1B-5.9), P.L.1981, c.505 (C.34:1B-7.1 et seq.), P.L.1986, c.127 (C.34:1B-7.7 et seq.), …

34:1B-30. Legislative findings The Legislature finds: a. During the past decade, a number of industrial plants and other facilities located in this State have permanently terminated operations or relocated operations to sites in other states or abroad; and, b. These terminations …

34:1B-300 New Jersey Innovation Evergreen Advisory Board. 32. The New Jersey Innovation Evergreen Advisory Board is established in but not of the authority for the purposes of providing guidance and networking opportunities to qualified businesses. The members of the board shall …

34:1B-301 Report on implementation of program. 33. Beginning the year next following the year in which sections 20 through 34 of P.L.2020, c.156 (C.34:1B-288 through C.34:1B-302) take effect and every two years thereafter, the authority shall prepare a report on the implementatio…

34:1B-302 Regulations. 34. a. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to the contrary, the chief executive officer of the authority may adopt, immediately, upon filing with the Office of Administrative Law, regul…

34:1B-303 Short title. 35. Sections 35 through 42 of P.L.2020, c.156 (C.34:1B-303 through C.34:1B-310) shall be known and may be cited as the "Food Desert Relief Act." L.2020, c.156, s.35.

34:1B-304 Findings, declarations. 36. a. The Legislature finds and declares that: (1) there are certain areas of the State, known as "food desert" communities, in which residents are unable to obtain reasonable and adequate access to nutritious foods and, in particular, to fresh …

34:1B-305 Definitions. 37. As used in sections 35 through 42 of P.L.2020, c.156 (C.34:1B-303 through C.34:1B-310) and sections 3 and 4 of P.L.2022, c.47 (C.34:1B-308.1 and C.34:1B-308.2): "Authority" means the New Jersey Economic Development Authority established pursuant to sect…

34:1B-306 Food Desert Relief Program. 38. a. (1) There is established the Food Desert Relief Program to be administered by the New Jersey Economic Development Authority. The program shall include tax credit components, as provided in sections 39 and 40 of P.L.2020, c.156 (C.34:1B…

34:1B-307 Award of credit against tax due. 39. a. For privilege periods beginning on or after January 1 next following the effective date of sections 35 through 42 of P.L.2020, c.156 (C.34:1B-303 through C.34:1B-310), a taxpayer eligible under subsection c. of section 38 of P.L.2…

34:1B-308.1 Tax credit transfer certificate, application. 3. a. A taxpayer may apply to the director and the chief executive officer of the authority for a tax credit transfer certificate, covering one or more years, in lieu of the taxpayer being allowed any amount of the credit …

34:1B-308.2 Tax credit award agreement; taxpayer ability to pledge, assign, transfer, sell right, title, interest. 4. a. A taxpayer who has entered into a tax credit award agreement may, upon notice to and written consent of the authority and State Treasurer, pledge, assign, tran…

34:1B-309 Rules, regulations. 41. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to the contrary, the chief executive officer of the authority, in consultation with the department and the Director of the Division of Tax…

34:1B-31. Short title This act shall be known and may be cited as the "Worker Owned Corporation Study Act" . L.1981, c. 82, s. 2, eff. March 25, 1981.

34:1B-310 Annual report. 42. Within one year of the effective date of sections 35 through 42 of P.L.2020, c.156 (C.34:1B-303 through C.34:1B-310), the authority shall annually submit a report to the Governor, the State Treasurer, and, pursuant to section 2 of P.L.1991, c.164 (C.5…

34:1B-32. Study of best means to encourage employee stock ownership plans The Department of Labor and Industry is directed to undertake a study as to the best means of providing encouragement and assistance to the formulation of employee stock ownership plans providing for the pa…

34:1B-322 Short title. 54. Sections 54 through 67 of P.L.2020, c.156 (C.34:1B-322 through C.34:1B-335) shall be known and may be cited as the "New Jersey Aspire Program Act." L.2020, c.156, s.54.