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 programs. The bill also clarifies the definitions of "recipient business," "tax expenditure," and "state agency" to ensure comprehensive understanding of the entities involved.

Violations of this prohibition are classified as a fourth-degree crime, 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, potential ineligibility for future subsidies, and a five-year debarment from contracting with state agencies. 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 effectively.