N.J. Admin. Code § 19:31I-1.5

Current through Register Vol. 56, No. 12, June 17, 2024

Section 19:31I-1.5 - Business expansion or relocation

(a) For businesses that are locating in the State from outside New Jersey, only new employees in eligible positions created in the base years and thereafter may be considered for grant purposes.

1. Upon Authority Board approval, the business's payroll/number of employees shall be registered, including the number of existing employees in New Jersey. Upon occupancy of the project, the business shall have until the end of the base years to achieve the number of employees as represented at application. Only those new employees in eligible positions shall be considered when determining a grant.

2. The business may receive a grant for the new employees in eligible positions represented at application and any additional new employees in eligible positions that are created during the base years and thereafter.

3. Grant payments shall be issued by the Authority subject to annual appropriation from the General Fund to the Authority or upon issuance of a bond, the proceeds of which are intended for grant payments beginning the next calendar year following achievement of the employment conditions and other conditions set forth in the Agreement and annually thereafter only if the State Treasurer has certified that the amount of withholdings received in the previous year by the Division from the business equals or exceeds in the amount of the grant.

(b) For businesses expanding in New Jersey through relocation from an existing site to a new location or expansion at its existing location, only those new employees in eligible positions to be created in the base years and thereafter may be considered when determining a grant. Grant payments shall be issued during the next calendar year upon occupancy of the project and achievement of the employment conditions set forth in the Agreement.

(c) If a business is expanding through a merger or consolidation with one or more companies, only the eligible positions created or transferred from outside New Jersey after board approval and the official date of the merger or consolidation shall be considered when determining a grant. The Authority's approval of the merger or consolidation will be conditioned on the growth of the number of new employees under the grant being subject to N.J.A.C. 19:31I-1.4(e)2.

(d) To the extent a business requests to add an additional site to an existing BEIP, the Authority's approval of the new site will be conditioned on the growth of the number of new employees under the grant being subject to N.J.A.C. 19:31I-1.4(e)2. The additional site will be required to meet or to have met the material factor test, unless the additional site is directly related to growth at the original project site.

N.J. Admin. Code § 19:31I-1.5

Amended by R.1997 d.270, effective 7/7/1997.
See: 29 N.J.R. 1485(b), 29 N.J.R. 2844(b).
In (a), substituted "new employees in eligible positions created in the base years and thereafter may be considered" for "the new employees subject to withholding shall be considered as eligible positions"; in (a)1, substituted "Authority Board approval" for "application to the Authority" and inserted "new" in the third sentence; in (a)2, inserted "new employees in"; substantially amended (a)3; in (b), inserted "new employees"; and in (c), deleted "eligible" following "only the new".
Amended by R.2000 d.297, effective 7/17/2000.
See: 32 N.J.R. 1705(a), 32 N.J.R. 2602(c).
In (a), inserted ", including the number of existing employees in New Jersey" at the end of the first sentence in 1, and inserted "or estimated taxes of partners" following "withholdings" and inserted ", partnership or cooperative association" following "business" in 3; and rewrote (c).
Amended by R.2004 d.94, effective 3/1/2004.
See: 35 N.J.R. 5047(a), 35 N.J.R. 5369(a), 36 N.J.R. 1198(b).
In (a)3, inserted "or upon issuance of a bond, the proceeds of which are intended for grant payments" preceding "beginning the next calendar year".
Administrative correction.
See: 40 N.J.R. 809(a).

Recodified from 19:31-10.5 56 N.J.R. 807(a), effective 5/6/2024