N.J. Admin. Code § 19:31N-1.3

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

Section 19:31N-1.3 - Eligibility criteria

(a) A business shall be eligible to apply to the program if the business:

1. Entered into a BRRAG project agreement pursuant to P.L. 1996, c. 25 (N.J.S.A. 34:1B-112 et seq.), as amended at P.L. 2000, c. 65 and N.J.A.C. 19:30Mand is not in default of that BRRAG project agreement;

2. Has unused amounts of BRRAG tax credits issued and otherwise allowable;

3. Certifies, to the best of its knowledge, that it cannot use the BRRAG tax credits originally issued for the tax periods in which the credits are allowable; and

4. Has incurred or will incur expenses in connection with the operation of the business in the State, including, but not limited to, the expenses of fixed assets, such as the construction and acquisition and development of real estate, materials, start-up, tenant fit-out, working capital, salaries, research and development expenditures, and any other expenses determined by the Chief Executive Officer to be necessary to carry out the purposes of the Act.

N.J. Admin. Code § 19:31N-1.3

Recodified from N.J.A.C. 12A:2A-1.3 and amended by R.2010 d.231, effective 10/18/2010.
See: 42 N.J.R. 1495(b), 42 N.J.R. 2436(a).
In (a)1, updated the N.J.A.C. reference; and in (a)4, substituted "Chief Executive Officer" for "Secretary".

Recodified from 19:31-15.3 56 N.J.R. 807(a), effective 5/6/2024