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

34:1B-327 Awarding of incentive awards. 59. a. Prior to March 1, 2029, for redevelopment projects eligible pursuant to section 57 of P.L.2020, c.156 (C.34:1B-325), the authority shall award incentive awards based on the order in which complete, qualifying applications were receiv…

34:1B-328 Incentive award agreement. 60. a. (1) Following approval and selection of an application pursuant to sections 58 and 59 of P.L.2020, c.156 (C.34:1B-326 and C.34:1B-327), the authority shall enter into an incentive award agreement with the developer. The chief executive …

34:1B-329 Total tax credit. 61. a. Up to the limits established in subsection b. of this section and in accordance with an incentive award agreement, beginning upon the receipt of occupancy permits for any portion of the redevelopment project, or upon any other event evidencing p…

34:1B-33. Conduct of study; considerations, consultations and investigations In conducting its study, the department shall: a. consider Federal and State law relating directly or indirectly to these plans, and to the organization and operation of any trusts established pursuant t…

34:1B-330 Report by developer. 62. a. A developer approved for an incentive award pursuant to sections 58 and 59 of P.L.2020, c.156 (C.34:1B-326 and C.34:1B-327) and that enters an incentive award agreement pursuant to section 60 of P.L.2020, c.156 (C.34:1B-328) shall submit annu…

34:1B-331 Tax credit transfer certificate. 63. a. (1)A developer 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 developer being allowed any amount of the credit against t…

34:1B-332 Assignment of rights of incentive award agreement. 64. a. A developer who has entered into an incentive award agreement pursuant to section 60 of P.L.2020, c.156 (C.34:1B-328) may, upon notice to and written consent of the authority and State Treasurer, pledge, assign, …

34:1B-333 "Transformative project." 65. a. As used in this section, "transformative project" means a redevelopment project: that has a project financing gap; that has a total project cost of at least $150,000,000; that includes 200,000 or more square feet of new or substantially …

34:1B-334 Report by State college, university. 66. a. Beginning the year next following the year in which P.L.2020, c.156 (C.34:1B-269 et al.) takes effect and every two years thereafter, a State college or university established pursuant to chapter 64 of Title 18A of the New Jer…

34:1B-335 Regulations. 67. a. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) to the contrary, except as otherwise provided in subsection b. of this section, the chief executive officer of the authority may adopt, immedia…

34:1B-335.1 Program applications, "New Jersey Aspire Program Act". 14. a. (1) Except as otherwise provided in subsection b. of this section, all program applications completed after the effective date of P.L.2023, c.98 (C.34:1B-335.1 et al.) shall be subject to the "New Jersey As…

34:1B-335.2 Completed program application, pending approval, withdrawal, timeline. 15. If an applicant has submitted a completed program application that is pending approval by the authority on the effective date of P.L.2023, c.98 (C.34:1B-335.1 et al.), the applicant may withdra…

34:1B-335.3 Approved projects, certain requirements. 10. a. Notwithstanding any provision of P.L.2020, c.156 (C.34:1B-269 et al.), section 14 of P.L.2023, c.98 (C.34:1B-335.1), or any provision of law to the contrary, any project approved by the authority after the effective date…

34:1B-335.4 Findings and declarations. 1. The Legislature finds and declares that: a. Due to its location, population, and pool of talent, New Jersey is well situated to promote and expand its sports and entertainment industry. b. Nationally, sports and entertainment facilities a…

34:1B-335.5 Definitions. 2. As used in sections 3 through 4 of P.L.2025, c.399 (C.34:1B-335.6 through C.34:1B-335.7), all terms shall have the same meanings as defined in section 55 of P.L.2020, c.156 (C.34:1B-323), except as follows: "Co-applicant" means an entity that: is exemp…

34:1B-335.6 Sports and entertainment project requirements. 3. a. (1) Prior to June 30, 2027, a developer seeking tax credits for a sports and entertainment project shall submit an application to the authority in the form and manner prescribed pursuant to sections 55 through 67 of…

34:1B-335.7 Tax credits awarded and administered to developers. 4. a. The authority may award tax credits to the developer of a sports and entertainment project in accordance with the provisions of sections 55 through 67 of P.L.2020, c.156 (C.34:1B-323 through C.34:1B-335), as am…

34:1B-336 Short title. 68. Sections 68 through 81 of P.L.2020, c.156 (C.34:1B-336 et al.) shall be known and may be cited as the "Emerge Program Act." L.2020, c.156, s.68.

34:1B-337 Definitions. 69. As used in sections 68 through 81 of P.L.2020, c.156 (C.34:1B-336 et al.): "Affiliate" means an entity that directly or indirectly controls, is under common control with, or is controlled by the business. Control exists in all cases in which the entity …

34:1B-338 Emerge Program. 70. a. The Emerge Program is hereby established as a program under the jurisdiction of the New Jersey Economic Development Authority. The authority shall administer the program to encourage economic development, job creation, and the retention of signifi…

34:1B-339 Application, tax credits. 71. a. Beginning on the effective date of P.L.2020, c.156 (C.34:1B-269 et al.), but prior to March 1, 2029, to be eligible for tax credits under the program, a business's chief executive officer, or equivalent officer, shall demonstrate to the …

34:1B-34. Development of plan Pursuant to the findings and conclusions of the study conducted as provided in sections 3. and 4. of this act, the Department of Labor and Industry shall develop a plan to encourage and assist the formulation of employee stock ownership plans providi…

34:1B-340 Application for approval of project. 72. a. A business that meets the eligibility criteria in section 71 of P.L.2020, c.156 (C.34:1B-339) and is seeking a grant of tax credits for a project under the program shall submit an application for approval of the project to the…

34:1B-341 Project agreement. 73. a. Following approval by the board, but before the issuance of tax credits, the authority shall require an eligible business to enter into a project agreement. The terms of the project agreement shall be consistent with the eligibility requirement…

34:1B-342 Site plan approval, financing, site control for qualified business facility. 74. a. Following board approval within a time established by the authority and prior to the authority and an eligible business executing a project agreement, the eligible business shall demonst…

34:1B-343 Total amount of tax credit. 75. a. The total amount of the tax credit for an eligible business for each new or retained full-time job shall be as set forth in subsections b. through g. of this section. The total tax credit amount shall be calculated and credited to the …

34:1B-344 Forfeit of credit. 76. a. (1) If, in any tax period, an eligible business reduces the total number of full-time employees in its Statewide workforce by more than 20 percent from the number of full-time employees in its Statewide workforce in the last tax period prior to…

34:1B-345 Annual report. 77. a. (1) An eligible business which is awarded tax credits under the program shall submit annually, no later than the date indicated in the project agreement, commencing in the year in which the grant of tax credits is issued and for the remainder of th…

34:1B-346 Application for tax credit transfer certificate. 78. a. An eligible business may apply to the director and the chief executive officer of the authority for a tax credit transfer certificate, within three years of the tax period in which the director allows the eligible …

34:1B-347 Report by State college, university. 80. Beginning the year next following the year in which P.L.2020, c.156 (C.34:1B-269 et al.) takes effect and every two years thereafter, a State college or university shall, pursuant to an agreement executed between the State colleg…

34:1B-348 Regulations. 81. 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, regulati…

34:1B-349 Short title. 82. Sections 82 through 88 of P.L.2020, c.156 (C.34:1B-349 et al.) shall be known and may be cited as the "Main Street Recovery Finance Program Act." L.2020, c.156, s.82.

34:1B-35. Annual reports to legislature The Commissioner of the Department of Labor and Industry shall within 1 year of the effective date of this act report the findings and conclusions of the study, together with details of the plan developed pursuant thereto, to the Legislatur…

34:1B-350 Definitions. 83. As used in sections 82 through 88 of P.L.2020, c.156 (C.34:1B-349 et al.): "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 Economic Develop…

34:1B-351 Main Street Recovery Finance Program. 84. The Main Street Recovery Finance Program is hereby established as a program under the jurisdiction of the New Jersey Economic Development Authority. The authority shall administer the program for the purpose of providing grants,…

34:1B-352 Grants to eligible small businesses. 85. a. As part of the Main Street Recovery Finance Program, the authority shall provide grants to eligible small businesses from the Main Street Recovery Fund, subject to appropriation or the availability of federal funds, provided t…

34:1B-353 Moneys available to eligible lenders. 86. a. As part of the Main Street Recovery Finance Program, the authority shall make loans and grants available from the Main Street Recovery Fund, subject to annual appropriation and the availability of funds, to eligible community…

34:1B-354 Regulations. 88. 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, regulati…

34:1B-355 Working Group on Entrepreneur Zones. 90. a. There is established in the New Jersey Economic Development Authority a Working Group on Entrepreneur Zones for the purpose of making recommendations for the establishment of entrepreneur zones throughout the State. The workin…

34:1B-36. Short title This act shall be known and may be cited as the "New Jersey Local Development Financing Fund Act." L.1983, c. 190, s. 1, eff. May 23, 1983.

34:1B-362 Combined value, all tax credits. 98. a. The combined value of all tax credits awarded under the "Historic Property Reinvestment Act," sections 2 through 8 of P.L.2020, c.156 (C.34:1B-270 through C.34:1B-276); the "Brownfields Redevelopment Incentive Program Act," sectio…

34:1B-363 Short title. 99. Sections 99 through 105 of P.L.2020, c.156 (C.34:1B-363 through C.34:1B-369) shall be known and may be cited as the "Economic Development Authority Integrity and Protection Act." L.2020, c.156, s.99.

34:1B-364 Definitions. 100. As used in sections 99 through 105 of P.L.2020, c.156 (C.34:1B-363 through C.34:1B-369): "Economic development incentive" means a financial incentive, awarded by the authority to a person or entity, or agreed to between the authority and a person or en…

34:1B-365 Chief Compliance Officer. 101. a. The New Jersey Economic Development Authority shall employ a Chief Compliance Officer, who shall be appointed by the Chief Executive Officer of the authority. b. The Chief Compliance Officer shall: (1) create, maintain, monitor, and coo…

34:1B-366 Office of the Economic Development Inspector General. 102. a. There is established, in but not of the Department of the Treasury, the Office of the Economic Development Inspector General, which shall operate independent of the oversight or management of the Chief Execut…

34:1B-367 Powers of Economic Development Inspector General. 103. a. The Economic Development Inspector General is authorized to request, and shall be entitled to receive, such information, assistance, and cooperation from any State or local government department, board, bureau, c…