N.J. Admin. Code § 19:31M-1.1
The rules in this chapter are promulgated by the New Jersey Economic Development Authority to implement P.L. 1996, c. 25 (N.J.S.A. 34:1B-112 et seq.), as substantially amended at P.L. 2004, c. 65, §§ 1 through 16 (the Act) and P.L. 2010, c. 123. The Act provides several incentive programs aimed at retaining in New Jersey the full-time jobs of businesses already active in this State. The Act established a business retention and relocation assistance grant program ("BRRAG Program" or "Program"), a tax credit certificate transfer program, a sales and use tax exemption program, and an energy sales tax exemption program (for businesses located in New Jersey urban enterprise zones). The purpose of the BRRAG Program is to encourage economic development and to preserve jobs that currently exist in New Jersey, but which are in danger of being relocated to premises outside of the State. To implement that purpose, and to the extent that funding for the Program is available, the Program may provide grants of tax credits but in no case shall the amount of an individual grant of tax credits exceed the limitations set forth in this subchapter and further specified in the project agreement of an applicant for a grant of tax credits.
N.J. Admin. Code § 19:31M-1.1
See: 42 N.J.R. 1495(b), 42 N.J.R. 2436(a).
Substituted "Economic Development Authority" for "Commerce, Economic Growth and Tourism Commission (the 'Commission')", deleted the fourth sentence, and inserted "BRRAG" preceding "Program is to encourage".
Amended by R.2011 d.208, effective 8/1/2011.
See: 43 N.J.R. 1192(a), 43 N.J.R. 1900(a).
Inserted "(N.J.S.A. 34:1B-112 et seq.)" and "and P.L. 2010, c. 123 ".