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Current as of January 01, 2024 | Updated by Findlaw Staff
a. A business may apply to the authority for a grant for any project which:
(1) Will create at least 25 eligible positions in the base years; or
(2) Will create at least 10 eligible positions in the base years if the business is an advanced computing company, an advanced materials company, a biotechnology company, an electronic device technology company, an environmental technology company, or a medical device technology company.
b. In the case of a business which is a landlord, the business may apply to the authority for a grant for any project in which at least 25 eligible positions are created in the base years.
c. A project which consists solely of point-of-final-purchase retail facilities shall not be eligible for a grant under P.L.1996, c. 26 (C.34:1B-124 et seq.). If a project consists of both point-of-final-purchase retail facilities and non-retail facilities, only the portion of the project consisting of non-retail facilities shall be eligible for a grant, and only the withholdings from new employees which are employed in the portion of the project which represents non-retail facilities shall be used to determine the amount of the grant. If a warehouse facility is part of a point-of-final-purchase retail facility and supplies only that facility, the warehouse facility shall not be eligible for a grant. For the purposes of P.L.1996, c. 26 (C.34:1B-124 et seq.), catalog distribution centers shall not be considered point-of-final-purchase retail facilities.
d. (1) If an application under P.L.1996, c. 26 (C.34:1B-124 et seq.) has been received by the authority prior to the effective date of the “New Jersey Economic Opportunity Act of 2013,” P.L.2013, c. 161 (C.52:27D-489p et al.), and, to the extent that there remains sufficient appropriations for grant issuance, then the authority is authorized to consider the application and to make a grant to an eligible applicant, provided that the authority shall take final action on that grant no later than December 31, 2013.
(2) A business shall apply for a grant under the Business Employment Incentive Program prior to the effective date of the “New Jersey Economic Opportunity Act of 2013,” P.L.2013, c. 161 (C.52:27D-489p et al.), and shall submit its documentation for approval of a grant no later than 90 calendar days after the effective date of the “New Jersey Economic Opportunity Act of 2013,” P.L.2013, c. 161 (C.52:27D-489p et al.).
(3) If a business has submitted an application under P.L.1996, c. 26 (C.34:1B-124 et seq.) and that application has not been approved for any reason, the lack of approval shall not serve to prejudice in any way the consideration of a new application as may be submitted by a business for the provision of incentives offered pursuant to the “New Jersey Economic Opportunity Act of 2013,” P.L.2013, c. 161 (C.52:27D-489p et al.).
Cite this article: FindLaw.com - New Jersey Statutes Title 34. Labor and Workmen's Compensation 34 § 1B-127 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-34-labor-and-workmens-compensation/nj-st-sect-34-1b-127/
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