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Bill > S1475
NJ S1475
NJ S1475Prohibits awarding of economic development subsidy to business if payment of principal and interest on previously awarded loan or loan guarantee is greater than 24 months overdue.
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 prohibits a State public body from awarding an economic development subsidy to a business that previously received an economic development subsidy that was a loan or loan guarantee if the payment of principal and interest on that previously awarded loan or loan guarantee is greater than 24 months overdue.
AI Summary
This bill prohibits a State public body from awarding an economic development subsidy to a business that previously received an economic development subsidy, such as a loan or loan guarantee, if the payment of principal and interest on that previously awarded loan or loan guarantee is greater than 24 months overdue. The bill aims to hold businesses accountable for repaying their past economic development subsidies before receiving additional support.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Economic Growth 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/S1475 |
| BillText | https://www.njleg.state.nj.us/Bills/2020/S1500/1475_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2020/S1500/1475_I1.PDF |
| BillText | https://www.njleg.state.nj.us/2020/Bills/S1500/1475_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/S1500/1475_I1.PDF |
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