Bill > S1027

This bill extends the deadline for public institutions of higher education in New Jersey to submit applications for certain construction projects to the New Jersey Economic Development Authority (EDA) for review and approval. The EDA is a state agency that helps finance economic development projects. The bill pushes back the submission deadline by 18 months, from February 1, 2012, to August 1, 2013. This applies to projects where a private entity takes on full financial and administrative responsibility for constructing, repairing, or improving buildings or facilities for the institution, as long as the private entity finances the entire project and the institution retains ownership of the land.