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Bill > A2595
NJ A2595
NJ A2595Authorizes political subdivisions to require recipients of economic development incentives to enter into community benefits agreements.
summary
Introduced
02/13/2020
02/13/2020
In Committee
02/13/2020
02/13/2020
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill authorizes any political subdivision within this State, when entering into an economic development subsidy granting an amount in excess of $100,000 to a developer, to condition the grant proceeds upon the grantee's promise to enter into a community benefits agreement. The bill defines "community benefits agreement" to mean a legally binding contract concerning a specific project which requires contractors and developers of the project to make specific contributions for the benefit of the community including, but not limited to, provisions related to local hiring, area wage and benefits standards, or engaging local businesses for the provision of goods and services.
AI Summary
This bill authorizes any political subdivision within the State of New Jersey, when providing an economic development subsidy greater than $100,000 to a developer, to require the grantee to enter into a community benefits agreement. A community benefits agreement is a legally binding contract that obligates the developer to make specific contributions to the local community, such as provisions related to local hiring, area wage and benefits standards, or engaging local businesses for goods and services.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced, Referred to Assembly Commerce and Economic Development Committee (on 02/13/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2020/A2595 |
| BillText | https://www.njleg.state.nj.us/Bills/2020/A3000/2595_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2020/A3000/2595_I1.PDF |
| BillText | https://www.njleg.state.nj.us/2020/Bills/A3000/2595_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/A3000/2595_I1.PDF |
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