Sponsored by:
Assemblywoman ANNETTE QUIJANO
District 20 (Union)
SYNOPSIS
Requires certain public and private entities to publicize receipt of State funds or economic development subsidies in certain circumstances.
CURRENT VERSION OF TEXT
As introduced.
An Act requiring public and private entities to include notice of receipt of State funds in promotional materials and supplementing Title 52 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. As a condition of receiving any economic development subsidy or State funding, a nonprofit entity, public entity, or business entity shall include on its informational and promotional materials a notice that the entity is the recipient of State funds or an economic development subsidy. The statement shall be included in any written statement disseminated to broadcast, digital, or print media and on any placard or banner displayed at any public event held by the nonprofit entity, public entity, or business entity or on any occasion in which the nonprofit entity or business entity distributes or provides goods or services, free of charge, to members of the public. A public entity shall not be required to display or read the statement at any meeting that is conducted in accordance with the provisions of the Senator Byron M. Baer Open Public Meetings Act, P.L.1975, c.231 (C.10:4-6 et seq.).
b. The State Treasurer shall adopt rules and regulations, pursuant to the Administrative Procedure Act, P.L.1968, c.410 (C.52:14B-1 et seq.), to effectuate the provisions of this section.
c. As used in this section:
Business entity means any individual, association, for-profit corporation, joint venture, limited liability company, partnership, sole proprietorship, or other entity either within or outside this State that receives and economic development subsidy. A business entity shall not mean a public or private institution of higher education.
Economic development subsidy means the provision of financial assistance to a business entity by or from a State public body with a value of greater than $500 for the purpose of stimulating economic development in New Jersey, including, but not limited to, any bond, grant, loan, loan guarantee, matching fund, tax credit, or other type of tax incentive. Economic development subsidy shall not mean any contract under which a State public body purchases or otherwise procures goods, services, or construction on an unsubsidized basis, including any contract solely construction or renovation owned by a State public body.
Nonprofit entity means a corporation, association, or organization, which is not operated for pecuniary profit of any private shareholders or individual, and which is not a component of the federal, State or local governments.
Public entity means any county, municipality, school district or other political subdivision thereof, and any agency, authority, or instrumentality of the foregoing.
State public body means the State of New Jersey or any agency, authority, board, commission, or instrumentality of the State. State public body shall not mean a political subdivision of the State, or any agency, authority, board, commission, or instrumentality of a political subdivision of the State.
2. This act shall take effect immediately and shall apply to the State fiscal year first commencing on July 1, 2025.
STATEMENT
This bill requires any nonprofit entity, public entity, or business entity to include a notice on its informational and promotional materials that that entity is the recipient of State funds or and economic development subsidy. The bill requires the notice to be included on any written statement disseminated by the entity, to broadcast, digital, or print media, and on any placard or banner displayed at any public event held by the nonprofit entity, public entity, or business entity, or on any occasion in which the nonprofit entity or business entity provides goods or services, free of charge, to members of the public.
Under the bill, the term economic development subsidy is defined as the provision of financial assistance to a business entity by or from a State public body with a value of greater than $500 for the purpose of stimulating economic development in New Jersey, including, but not limited to, any bond, grant, loan, loan guarantee, matching fund, tax credit, or other type of tax incentive.