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Bill > S2327
NJ S2327
NJ S2327Prohibits 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
03/21/2022
03/21/2022
In Committee
11/03/2022
11/03/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 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 in the form of 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. This is intended to prevent the State from providing further subsidies to businesses that have defaulted on their previous financial obligations.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Reported from Senate Committee, 2nd Reading (on 11/03/2022)
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/S2327 |
| Analysis - Statement SEG 11/3/22 | https://pub.njleg.gov/Bills/2022/S2500/2327_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/S2500/2327_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/S2500/2327_I1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S2500/2327_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S2500/2327_I1.PDF |
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