Prohibits award of State contracts and development subsidies to inverted domestic corporations.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill prohibits New Jersey state agencies and authorities from awarding contracts or development subsidies to companies that have been designated as ‘inverted domestic corporations’ by the Internal Revenue Service. It defines this term and requires companies seeking these awards to certify they are not inverted. The bill also updates regulations for development subsidies to include stricter requirements for applicants and ongoing reporting to ensure compliance.
Bill text
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Document of record
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1 on record
Primary sponsor
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