Bill > S2295

Introduced Session

This bill would provide an exemption from the disclosure requirements established pursuant to subsection e. of section 2 of P.L.1983, c.392 (C.13:1E-127) for a business concern that is a secondary business activity corporation, a publicly traded corporation, or an institutional investor, including limited partnership interests, that is not the applicant, licensee, or permittee but which is listed in the disclosure statement of an applicant, licensee, or permittee. The exemption from the disclosure statement requirements would be available if the secondary business activity corporation, publicly traded corporation or institutional investor does not and will not have any responsibility for, or control of, the commercial solid waste or hazardous waste operations of the applicant, licensee, or permittee conducted in New Jersey. In addition, the bill would provide that an individual previously exempted from fingerprint and personal history disclosure requirements and a secondary business activity corporation, publicly traded corporation, or institutional investor, that directly or indirectly holds 5% or more of the equity or debt of the applicant, licensee, or permittee, shall be deemed to have responsibility for, or control of, the commercial solid waste or hazardous waste operations of the applicant, licensee, or permittee conducted in New Jersey. However, under the bill, that provision would not apply to chartered lending institutions holding debt, directly or indirectly, of the applicant, licensee, or permittee. Finally, the bill provides that a person that holds equity in or debt liability of a business concern that is exempt from the disclosure requirements established by subsection e. of section 2 of P.L.1983, c.392 (C.13:1E-127) shall also be exempt from those disclosure requirements.

AI Summary

Committee Categories

Upendra Chivukula (D)*,  Raymond Lesniak (D)*,  Albert Coutinho (D), 

Approved P.L.2011, c.68. (on 05/09/2011)