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Bill > A299
NJ A299
NJ A299Prohibits 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
01/09/2018
01/09/2018
In Committee
03/07/2019
03/07/2019
Crossed Over
Passed
Dead
01/08/2020
01/08/2020
Introduced Session
2018-2019 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 (e.g. a grant or tax credit) to a business that previously received a loan or loan guarantee as an economic development subsidy if the payment of principal and interest on that previously awarded loan or loan guarantee is greater than 24 months overdue. This aims to ensure that businesses do not receive additional public subsidies if they have failed to make timely payments on previous subsidized loans.
Committee Categories
Business and Industry
Sponsors (6)
Eric Houghtaling (D)*,
Jay Webber (R)*,
Marlene Caride (D),
Craig Coughlin (D),
Patricia Jones (D),
Nancy Pinkin (D),
Last Action
Reported out of Assembly Committee, 2nd Reading (on 03/07/2019)
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/2018/Bills/A0500/299_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/A0500/299_I1.PDF |
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