Bill
Bill > S4275
summary
Introduced
03/24/2025
03/24/2025
In Committee
03/24/2025
03/24/2025
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill prohibits State contractors from selling, transferring, disclosing, or providing data to a foreign adversary. Pursuant to the bill, a person or entity that sells, transfers, discloses, or provides data to foreign adversaries, or entities directly or indirectly controlled by, operating on behalf of, or significantly influenced by a foreign adversary, will be placed on a list by the Department of the Treasury and will not be permitted to contract with State agencies, subcontract with State contractors, file or renew a Public Works Contractor Registration, receive an economic development subsidy from the Economic Development Authority, be awarded a municipal property tax abatement, make or enter into a payment in-lieu of property tax agreement, apply for or receive a tax clearance certificate from the Division of Taxation, be certified as an urban renewal entity for purposes of the "Long Term Tax Exemption Law," or be designated as a redeveloper by a public agency for the purposes of the "Local Redevelopment and Housing Law." The bill also prohibits the State from banking with, having or holding stock, debt, or other equity investments of, or maintaining insurance coverage through a policy issued by a financial institution that has sold, transferred, disclosed, or provided data to a foreign adversary or an entity directly or indirectly controlled by, operating on behalf of, or significantly influenced by a foreign adversary.
AI Summary
This bill establishes comprehensive restrictions on state contractors and financial institutions that share data with foreign adversaries, defined as foreign governments or entities determined by the U.S. Secretary of Commerce to have engaged in conduct significantly harmful to U.S. national security. The legislation requires the Department of the Treasury to create and maintain a public list of persons or entities that sell, transfer, disclose, or provide data to foreign adversaries, with provisions for notifying and allowing entities to contest their inclusion. Entities on this list will be ineligible for numerous state-related activities, including entering state contracts, receiving economic development subsidies, obtaining tax clearances, and being designated for urban renewal projects. The bill imposes significant penalties for false certifications, including potential civil penalties up to $1,000,000 or twice the value of the bid, contract termination, and a five-year ban from state-related activities. The law includes exceptions for legally required data transmission, legitimate international business transactions, and publicly available data. Additionally, the bill prohibits state agencies from banking with, investing in, or maintaining insurance with financial institutions on the foreign adversary data-sharing list, thereby creating a comprehensive framework to prevent state resources from supporting entities deemed to compromise national security.
Committee Categories
Government Affairs
Sponsors (5)
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 03/24/2025)
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/2024/S4275 |
| BillText | https://pub.njleg.gov/Bills/2024/S4500/4275_I1.HTM |
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