Bill
Bill > A3601
summary
Introduced
03/14/2022
03/14/2022
In Committee
03/14/2022
03/14/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill authorizes local governmental entities to enter into regional economic development partnerships for the purpose of engaging in joint regional economic planning and formulating an economic development or redevelopment strategy. Under the bill, regional economic development partnerships could include any combination of county governments, municipal governments, agencies or instrumentalities thereof, and public or private economic development organization. A regional economic development partnership may also include businesses, business organizations, educational institutions, nonprofit organizations, and other entities located within the region.
AI Summary
This bill authorizes local governmental entities, such as county and municipal governments, as well as public or private economic development organizations, to enter into regional economic development partnerships. These partnerships can engage in joint regional economic planning, formulate economic development or redevelopment strategies, assist existing businesses, attract new businesses, and share the costs of projects. The partnerships may also include businesses, business organizations, educational institutions, nonprofit organizations, and other entities located within the region. The partnerships can be registered with the New Jersey Economic Development Authority and may be eligible for loans or matching grants to support their activities. The bill also allows local units to enter into other economic development agreements without forming a formal partnership, subject to approval by the Local Finance Board.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced, Referred to Assembly Commerce and Economic Development Committee (on 03/14/2022)
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/2022/A3601 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A4000/3601_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A4000/3601_I1.PDF |
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