Authorizes political subdivisions to require recipients of economic development incentives to enter into community benefits agreements.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill allows New Jersey cities and towns to demand that companies receiving economic development assistance, like tax breaks or grants, also create ‘community benefits agreements.’ These agreements would outline specific improvements the company will make to the local community, such as job training programs, affordable housing, or investments in local infrastructure. The goal is to ensure that economic development projects benefit residents alongside the businesses involved. This legislation gives local governments more power to negotiate for positive community outcomes.
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