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

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.

34:1B-323 Definitions. 55. As used in sections 54 through 67 of P.L.2020, c.156 (C.34:1B-322 through 34:1B-335): "Agency" means the New Jersey Housing and Mortgage Finance Agency established pursuant to P.L.1983, c.530 (C.55:14K-1 et seq.). "Authority" means the New Jersey Econom…

34:1B-324 New Jersey Aspire Program; rules, regulations. 56. a. (1) The New Jersey Aspire 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 redevelopment proj…

34:1B-325 Eligibility, incentive award, redevelopment project. 57. a. Prior to March 1, 2029, a developer shall be eligible to receive an incentive award for a redevelopment project only if the developer demonstrates to the authority at the time of application that: (1) without t…

34:1B-326 Application, incentive award. 58. a. Prior to March 1, 2029, for redevelopment projects eligible pursuant to section 57 of P.L.2020, c.156 (C.34:1B-325) for which a developer is seeking an incentive award for the redevelopment project, the developer shall submit an appl…

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…