Trenton, NJ - The New Jersey Chamber of Commerce is tracking legislation and other items important to the Business Community: "Gov. Christie's Final Action on Bills from the 217th Legislative Session"
ECONOMIC DEVELOPMENT
Permits Certain Small Businesses to Qualify for EDA Loans - A-1451 (Lampitt/D-6; Mosquera/D-4; Green/D-22; Caride/D-36; Pintor Marin/D-29; Wimberly/D-35; Weinberg/D-37; Cruz-Perez/D-5): Signed into law by the Governor. Permits small, women-owned, or minority-owned businesses located in certain areas to qualify for loans from the EDA, as if located in a designated urban center. The bill would allow the Metropolitan Planning Area in the State Development and Redevelopment Act to determine the areas in which businesses must be located. The areas include Camden, Paterson and Trenton. Small businesses are the backbone of the economy and the State Chamber believes that these loans enhance the ability of small companies to thrive in New Jersey.Contact: Lauren Lalicon
Grow NJ Tax Credit Transfers - S-3305 (Sarlo/D-36; Singleton/D-7; Pintor Marin/D-29): Signed into law by the Governor. Extends the time period for businesses to use tax credit transfers from three years to 20 years, and excludes the sale of a tax credit from gross income tax and corporate business tax. Certain businesses are unable to apply their Grow NJ tax credits directly to their liabilities. Instead, these businesses must apply to the Division of Taxation and the EDA for a tax credit transfer certificate. These credits are less likely to be sold for the same amount the original tax credit was awarded, which reduces the economic impact of these tax credits. Among several other limitations that burden the tax credit transfer process, these conditions restrict businesses' ability to obtain a fair selling price. Reducing these burdens will encourage businesses to sell tax credits, thereby increasing participation in the Grow NJ program. Contact: Michael Egenton
Extends Tax Incentive Program Deadlines - S-3341 (Ruiz/D-29; Pintor Marin/D-29; Wimberly/D-35; Singleton/D-7; Wisniewski/D-19): Signed into law by the Governor. This bill would extend statutory deadlines for submitting documents to qualify for certain tax incentive programs. The deadlines for the Urban Transit Hub Tax Credit Program and the Economic Redevelopment and Growth Grant Program would be extended from 2019 to 2021, allowing more businesses interested in expanding or establishing themselves in New Jersey to apply for these incentives. Contact: Michael Egenton
MILITARY
100th Anniversary of Fort Dix - SJR-84 (Allen/R-7; Beach/D-6; Dancer/R-12; DeAngelo/D-14; Singleton/D-7): Signed into law by the Governor. This joint resolution recognizes the 100th anniversary of Fort Dix as a significant part of New Jersey history. Fort Dix was established in 1917, named after Major General John Adams Dix. Initially known as Camp Dix, this center was used to train and stage soldiers during World War I as well as many other major operations including Vietnam, Bosnia, and Iraq. In the early 2000s, Fort Dix was consolidated with an adjoining U.S. Air Force and Navy facility to become part of the Joint Base McGuire-Dix-Lakehurst, the Department of Defenses' only tri-service joint base. The State Chamber recently honored New Jersey military veterans at its 2017 Liberty Gala, and this bill continues the well-deserved recognition. Contact: Michael Egenton
PUBLIC SAFETY
Drone Regulation - S-3370 (Sarlo/D-36; Whelan/D-2; Quijano/D-20; Bramnick/R-21; Mazzeo/D-2; Mukherji/D-33; Benson/D-14): Signed into law by the Governor. Regulates and prohibits certain operation of drones. The bill determines what offenses would be considered a disorderly persons offense, a fourth degree crime and a third degree crime when operating a drone. The bill also would prohibit the use of operating a drone when hunting wildlife, and would determine when using a drone would violate a restraining order. Owners and operators of critical infrastructure may apply to the Federal Aviation Administration to prohibit or restrict the operation of drones in close proximity. Contact: Michael Egenton
