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Bill > A2546
NJ A2546
NJ A2546Prohibits 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
02/04/2016
02/04/2016
In Committee
02/29/2016
02/29/2016
Crossed Over
02/18/2016
02/18/2016
Passed
Dead
01/08/2018
01/08/2018
Introduced Session
2016-2017 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 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. The bill aims to ensure that businesses that are significantly delinquent on their loan repayments do not receive additional economic development subsidies from the state.
Committee Categories
Business and Industry
Sponsors (7)
Eric Houghtaling (D)*,
Troy Singleton (D)*,
Jay Webber (R)*,
Marlene Caride (D),
Craig Coughlin (D),
Patricia Jones (D),
Nancy Pinkin (D),
Last Action
Received in the Senate, Referred to Senate Economic Growth Committee (on 02/29/2016)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2016/Bills/A3000/2546_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2016/Bills/A3000/2546_I1.PDF |
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