New Jersey bill A2400 imposes penalties and forfeiture of economic development subsidies for businesses violating state environmental laws.

The bill authorizes the Commissioner of Environmental Protection to take actions against businesses that violate state environmental laws and have received economic development subsidies. If a business is found responsible for an environmental incident, it may be required to make a payment to the State or forfeit future economic development subsidies. The payment or forfeiture amount is the greater of 20% of the economic development subsidies awarded for the tax year or the total costs to address the environmental incident.

New Jersey bill A2400 imposes penalties and forfeiture of economic development subsidies for businesses violating state environmental laws.

The bill authorizes the Commissioner of Environmental Protection to take actions against businesses that violate state environmental laws and have received economic development subsidies. If a business is found responsible for an environmental incident, it may be required to make a payment to the State or forfeit future economic development subsidies. The payment or forfeiture amount is the greater of 20% of the economic development subsidies awarded for the tax year or the total costs to address the environmental incident.