This bill establishes a prohibition on businesses receiving state development subsidies of $25,000 or more from making campaign contributions to candidates for public office in New Jersey. The definition of "development subsidy" includes various forms of financial assistance from state agencies aimed at stimulating economic development, but excludes certain contracts and funds designated for specific purposes such as affordable housing or environmental improvements. The bill also clarifies the definitions of "recipient business," "state agency," and "tax expenditure" to ensure clarity in its application.

Violations of this prohibition are classified as a crime of the fourth degree, with fines reaching up to $200,000 for individuals and $500,000 for entities. Additionally, businesses found to have willfully violated the contribution ban may face penalties equivalent to the value of their development subsidy, ineligibility for future subsidies, and potential debarment from state contracts for up to five years. Candidates who solicit or accept prohibited contributions are also subject to penalties as outlined in existing election law. The bill mandates the Election Law Enforcement Commission to create regulations to implement these provisions, and it is set to take effect immediately upon passage.