N.J. Admin. Code § 19:31U-1.5

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

Section 19:31U-1.5 - Application submission requirements

(a) Each application to the Authority made by a business shall include the following information in an application format prescribed by the Authority:

1. Information on the business, including all affiliates contributing either full-time employees or capital investment, or both, to the project, which shall include the following:

i. The name of the business;

ii. The contact information of the person identified as the primary contact for the business;

iii. The prospective future address of the business (if different);

iv. The type of the business;

v. The principal products and services and three-digit North American Industry Classification System number;

vi. The New Jersey tax identification number;

vii. The Federal tax identification number;

viii. The total number of full-time employees in New Jersey on the date of the application and in the business's last tax period prior to the date of the application. If the application is approved in the business's subsequent tax period, the business must provide the total number of full-time employees in New Jersey in the tax period prior to credit amount approval;

ix. The total list of the business's locations in New Jersey and the function performed at each location;

x. A list of all of the New Jersey Department of Labor and Workforce Development, the Department of Environmental Protection, and the Department of the Treasury permits and approvals or obligations and responsibilities, with which the owner or business is associated with, or has an interest in. The list shall identify the entity that applied for or received such permits and approvals or have such obligations and responsibilities, such as by program interest numbers or licensing numbers. The business shall also submit a written certification by the chief executive officer of the eligible business or an equivalent officer stating that the business applying for the program satisfies the criteria at N.J.A.C. 19:31U-1.7(c)1 to be in substantial good standing with the Department of Labor and Workforce Development, the Department of Environmental Protection, and the Department of the Treasury; that contractors or subcontractors that will perform work at the qualified business facility are registered as required pursuant to the Public Works Contractor Registration Act, P.L. 1999, c. 238 (N.J.S.A. 34:11-56.48 et seq.), have not been debarred by Department of Labor and Workforce Development from engaging in or bidding on Public Works Contracts in the State, and possess a tax clearance certificate issued by the Division of Taxation in the Department of the Treasury, and that he or she has reviewed the application information submitted and that the representations contained therein are accurate;

xi. A completed legal questionnaire disclosing all relevant legal matters in accordance with the Authority debarment and disqualification rules at N.J.A.C. 19:30-2;

xii. Submission of a tax clearance certificate, pursuant to P.L. 2007, c. 101;

xiii. A list of all the development subsidies, as defined at P.L. 2007, c. 200, that the applicant is requesting or receiving, the name of the granting body, the value of each development subsidy, and the aggregate value of all development subsidies requested or received; and

xiv. Any other necessary and relevant information as determined by the Authority for a specific application; and

2. Project information, which shall include the following:

i. An overall description of the proposed project;

ii. A description of the capital investments planned by the business at the proposed qualified business facility;

iii. The estimated value of the capital investment and financial information demonstrating ability to complete the capital investment; and

iv. Evidence that the State's financial support of the proposed capital investment in a qualified business facility will yield a net positive economic benefit pursuant to N.J.A.C. 19:31U-1.3(b)5, taking into account the criteria listed at N.J.A.C. 19:31U-1.3(b)5i through v, and a statement that the applicant understands and acknowledges it may be required to submit any other information required by the Authority to conduct an analysis of the economic impact of the project;

(1) In relation to whether a proposed capital investment will yield a net positive economic benefit, the business shall submit a certification by the business's chief executive officer or an equivalent officer stating:

(A) That the existing full-time jobs are at risk of leaving the State or being eliminated, if the business has any such full-time jobs;

(B) The tax credits are a material factor in any projected creation or retention, as applicable, of new full-time jobs; and

(C) All documents and all factual representations made by the business to the Authority in support of and to demonstrate that the award of tax credits will yield a net positive benefit to the State are true and accurate at the time of submission, under the penalty of perjury;

v. A description of how the minimum environmental and sustainability standards are to be incorporated into the proposed project;

vi. Identification of the site or sites of the proposed qualified business facility, including the block and lot of the site or sites as indicated upon the local tax map. For purposes of determining geographical location of a building or contiguous buildings that extend over more than one geographical location, the building or contiguous buildings shall be considered in the geographical location in which the building or contiguous buildings are located with the most beneficial total tax credit amount;

vii. A project schedule that identifies projected move dates for the proposed qualified business facility;

viii. A schedule of short-term and long-term employment projections of the business in the State taking into account the proposed project;

ix. The terms of any lease agreements (including, but not limited to, information showing net leasable area by the business if a tenant and total net leasable area; or if the business is an owner, information showing net leasable area not leased to tenants, and total net leasable area) and/or details of the purchase or building of the proposed project facility; and a full economic analysis of all locations under consideration by the business, as well as all lease agreements, ownership documents, or substantially similar documentation for the business's proposed in-State locations and all lease agreements, ownership documents, or substantially similar documentation for the potential out-of-State location alternatives, to the extent they exist;

x. The identification of key factors that are influencing the business's decision to either move to, or stay in, the State, or locate out-of-State, weighted to reflect importance to the business;

xi. A narrative description of the business's rationale to move to, or stay in, the State, or locate out-of-State and any other issues driving the applicant's decisions;

xii. Competitive proposals that the eligible business has received from other states;

xiii. The total number of anticipated new and retained full-time jobs in New Jersey and the total number of full-time employees that would occupy the qualified business facility, and the distribution of such totals identified by business entity if any such jobs and employees will be provided by affiliates;

xiv. For a small business, the growth plan required pursuant to N.J.A.C. 19:31U-1.3(d)1; and

xv. Any other necessary and relevant information as determined by the Authority for a specific application; and

3. Employee information, which shall include the following:

i. Evidence to the Authority's satisfaction that demonstrates that 80 percent of each eligible position's work time will be performed in this State;

ii. The average annual wage and benefit rates of full-time employees and new and retained full-time jobs in the State; and

iii. Evidence that the applicant has provided the application information required by the State Treasurer for a development subsidy, such as the tax credits, pursuant to P.L. 2007, c. 200; and

4. Any other necessary and relevant information as determined by the Authority for a specific application, including, but not limited to:

i. A list of current employees and retained full-time employees in the State;

ii. The WR 30 of the business for the privilege period prior to application;

iii. A list of affiliates that will be contributing to the capital investment or full-time employees to the project;

iv. All locations in this State of the business and affiliates that will be contributing to the capital investment or full-time employees to the project;

v. The Statewide work force for the privilege period prior to application;

vi. A floor plan of the proposed qualified business facility that identifies the location of and square footage associated with the functions of the eligible positions at the proposed qualified business facility; and

vii. A list of all affiliates that are directly or indirectly controlled by the business, and the total number of full-time employees in New Jersey of each affiliate at the time of application and in the business's last tax period prior to the date of the application. If the application is approved in the business's subsequent tax period, the business must provide the total number of full-time employees in New Jersey of all affiliates in the tax period prior to credit amount approval.

(b) The business applying to the program shall submit an application fee as set forth at N.J.A.C. 19:31U-1.6.

(c) The Authority may require the submission of additional information to complete the application or may require the resubmission of the entire application, if incomplete. In order to be complete, the application shall identify the proposed project site and demonstrate financial and organizational ability to undertake the proposed project through evidence of available capital sufficient to complete the project.

(d) If circumstances require an eligible business to amend its application to the Authority or to provide additional or supplemental factual representations prior to approval, then the chief executive officer of the eligible business, or an equivalent officer, shall certify to the Authority that the information provided in its amended application and any other factual representations made in support of and to demonstrate the eligibility requirements at N.J.A.C. 19:31U-1.3(b), (c), (d), and (e) are true under the penalty of perjury.

N.J. Admin. Code § 19:31U-1.5

Amended by R.2022 d.058, effective 5/16/2022.
See: 54 N.J.R. 124(a), 54 N.J.R. 909(b).
In (a)1, inserted a comma preceding and following "or both"; rewrote (a)1x; in (a)2iv(1), substituted "chief executive officer" for "owner" and "an equivalent officer" for "authorized agent of the owner"; in (a)2ix, subtituted "proposed" for "current" following "business's"; rewrote (a)3; in (a)4i, substutied "in the State" for " at, or associated with, the qualified business facility", in (d), substituted "chief executive officer" for "owner" and "equivalent officer" for "authorized agent of the owner".

Recodified from 19:31-22.5 56 N.J.R. 807(a), effective 5/6/2024