Requires businesses that violates State environmental laws to forfeit economic development subsidies under certain circumstances.
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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 requires businesses receiving economic development subsidies from the State of New Jersey to forfeit a portion of those subsidies or make a payment to the state if they violate state environmental laws and cause an ‘environmental incident.’ The bill establishes a fund to reimburse residents impacted by these incidents, and outlines the process for determining the amount of forfeiture or payment, including consulting with the State Treasurer and the Economic Development Authority. It also mandates that future economic development subsidy agreements include a clause regarding compliance with this legislation.
Bill text
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Document of record
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Sponsors
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2 on record
Primary sponsors
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