New Jersey has been without a business tax incentive program since July 2019 when the previous legislation signed under Republican Chris Christie in 2013 expired.
The legislation comes after lawmakers and Democratic Gov. Phil Murphy had stalemated over incentives, but it follows months of tough economic news stemming from COVID-19. The state s unemployment rate is at 10.2% and businesses shuttered because of the governor s coronavirus public health orders are struggling.
The legislation is massive, at 249 pages, with more than 100 pages of amendment introduced late last week. It s also moving at lightning speed, getting a final vote on Monday just days after Murphy and legislative leaders said they reached an agreement.
NJ lawmakers overwhelmingly OK $14B tax break bill
The Democrat-led Assembly passed the bill 68-11, while the Democrat-controlled Senate voted 38-1 in favor.
The legislation is designed to give an incentive to companies to rehabilitate historical properties, clean up brownfield sites, attract grocery stores to areas without them, invest in innovative projects and more.
New Jersey has been without a business tax incentive program since July 2019 when the previous legislation signed under Republican Chris Christie in 2013 expired.
The legislation comes after lawmakers and Democratic Gov. Phil Murphy had stalemated over incentives, but it follows months of tough economic news stemming from COVID-19. The state s unemployment rate is at 10.2% and businesses shuttered because of the governor s coronavirus public health orders are struggling.
New Jersey lawmakers pass multiyear $14B tax break bill missoulian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from missoulian.com Daily Mail and Mail on Sunday newspapers.
New Jersey lawmakers have passed a measure to allow a recreational marijuana marketplace in the Garden State.
The legislation will now be sent to Democratic Gov. Phil Murphy, who is expected to sign the bill. Once that happens, New Jersey cannabis businesses will be able to offer recreational weed within six months.
The Democrat-led Assembly and Senate passed the bill on Thursday.
The six-month time frame would be among the shortest wait times from legalization to “market open date” for a recreational cannabis state. In Massachusetts, it took over two years from the time a similar measure was approved to the opening of the state’s first cannabis dispensaries. Nevada took eight months.
New Jersey lawmakers have passed a measure to allow a recreational marijuana marketplace in the Garden State.
The legislation will now be sent to Democratic Gov. Phil Murphy, who is expected to sign the bill. Once that happens, New Jersey cannabis businesses will be able to offer recreational weed within six months.
The Democrat-led Assembly and Senate passed the bill on Thursday.
The six-month time frame would be among the shortest wait times from legalization to market open date for a recreational cannabis state. In Massachusetts, it took over two years from the time a similar measure was approved to the opening of the state’s first cannabis dispensaries. Nevada took eight months.