a. No later than March 1 of each year, for the preceding grant year, every business which is awarded a grant
under this act shall submit to the authority a copy of its applicable New Jersey tax
return within 30 days of filing showing business income and withholdings as a condition of its continuation in the
grant program, together with an annual payroll report showing (1) the eligible positions
which were created during the base years and (2) the new eligible positions created during each
subsequent year of the grant. Should any business which is awarded a grant under this act fail to submit to the
authority a copy of its annual payroll report or submit its annual payroll report
without the information required by (1) and (2) above, any grant payment to be received
by any such business shall be forfeited for the applicable reporting year unless the
Executive Director of the authority determines that there are extenuating circumstances
excusing the timely filing required herein.
b. The division may require by regulation any information which it deems necessary
to effectuate the provisions of this act.
c. The authority may cause an audit of any business receiving a grant to be conducted
at any time.
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