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NJ S2325
NJ S2325Authorizes political subdivisions to require recipients of economic development incentives to enter into community benefits agreements.
summary
Introduced
03/21/2022
03/21/2022
In Committee
03/21/2022
03/21/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill authorizes any political subdivision within this State, when granting an economic development subsidy in an amount, either alone or in the aggregate, 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 New Jersey to condition the grant of an economic development subsidy exceeding $100,000 on the recipient's promise to enter into a "community benefits agreement." A community benefits agreement is a legally binding contract that requires the project's contractors and developers to make specific contributions to the community, such as local hiring, area wage and benefits standards, and engaging local businesses.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 03/21/2022)
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/S2325 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S2500/2325_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S2500/2325_I1.PDF |
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