Bill > S1719

This bill establishes the New Jersey Online Retail Business Employment and Investment Incentive Award Program, administered by the New Jersey Economic Development Authority (NJEDA), to encourage economic development and job creation by offering incentives to businesses that make significant capital investments and create a substantial number of full-time jobs in the state. To qualify for these incentives, businesses must apply to the NJEDA, demonstrate they will invest at least $65 million and create at least 1,500 full-time jobs with comprehensive benefits (meaning health care, retirement, and paid time off) within specific timeframes, and enter into an agreement with the NJEDA to maintain these jobs and comply with program terms, which include provisions for transportation plans for employees and prohibitions against receiving other state financial assistance. The bill also revises sales and use tax definitions to clarify who is presumed to be a "seller" for tax collection purposes, particularly for businesses with a significant presence in the state through related entities or activities, and makes an appropriation to fund these incentive awards, with annual awards capped at $25 million per company and a total aggregate cap of $100 million per year.