Statutes, codes, and regulations
New Jersey Administrative Code
Title 19 - OTHER AGENCIESNEW JERSEY ECONOMIC DEVELOPMENT AUTHORITYChapter 31M - BUSINESS RETENTION AND RELOCATION ASSISTANCE GRANT PROGRAM
Subchapter 1 - BUSINESS RETENTION AND RELOCATION ASSISTANCE GRANT PROGRAM
Section 19:31M-1.4 - Restrictions on eligibility

N.J. Admin. Code § 19:31M-1.4

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Current through Register Vol. 56, No. 24, December 18, 2024
Section 19:31M-1.4 - Restrictions on eligibility
(a) A business that is receiving a Business Employment Incentive Program grant shall not be eligible to receive a grant of tax credits under this program with respect to a job that is included in the calculation of a BEIP grant pursuant to P.L. 1996, c. 26 subsequent to being moved to the approved project site.
(b) A business that is receiving any other grant by operation of State law shall be eligible to receive a grant of tax credits under this program provided:
1. A business that is receiving another State grant shall not be eligible to receive assistance with respect to any job that is currently the subject of any other State grant, except for grants from the Office of Customized Training pursuant to the 1992 New Jersey Employment and Workforce Development Act, P.L. 1992, c. 43 (N.J.S.A. 34:15D-1 et seq.).
2. The State will realize a net positive benefit from the grant of tax credits and resultant retention of full-time jobs and any capital investment when combined with any other State grants equaling at least 110 percent of the grant of tax credits during the commitment duration but not less than eight years, except upon approval of the State Treasurer.
3. Amounts received as grants from the Office of Customized Training pursuant to the 1992 New Jersey Employment and Workforce Development Act, P.L. 1992, c. 43 (N.J.S.A. 34:15D-1 et seq.), shall be excluded from the calculation of the total amount permitted.
(c) A business that is in default with any other program administered by the State of New Jersey shall not be eligible to receive a grant of tax credits under this program.

N.J. Admin. Code § 19:31M-1.4

Recodified from N.J.A.C. 12A:2-1.4 by R.2010 d.231, effective 10/18/2010.
See: 42 N.J.R. 1495(b), 42 N.J.R. 2436(a).
Amended by R.2011 d.208, effective 8/1/2011.
See: 43 N.J.R. 1192(a), 43 N.J.R. 1900(a).
In the introductory paragraph of (b), substituted "provided" for "except as follows"; rewrote (b)2; and in (b)3, deleted "under (b)2 above" from the end.
Recodified from 19:31-14.4 56 N.J.R. 807(a), effective 5/6/2024