Adopted New Rules/Amendments
Adopted Amendments: N.J.A.C. 12A:2-1.6 and 1.15; 12A:2A-1.5, 1.7, 2.5 and 2.12; 19:30-6.4 and 6.7; and 19:31-3.1
Adopted New Rules: N.J.A.C. 12A:2-1.14; and 12A:2A-1.7 and 2.11
Business Retention and Relocation Assistance Grant (BRRAG) Program, Tax Credit Certificate Transfer Pro-gram; Sales and Use Tax Exemption Program; Direct Loan Program; Administrative Rules – Fees
The adopted amendments and new rules adjust current fees for various loan and incentive programs, including the Business Retention and Relocation Assistance Grant (BRRAG) Program, Tax Credit Certificate Transfer Program and Sales and Use Tax Exemption Program, which was transferred from the Commerce Commission pursuant to P.L. 2008, c. 27.
Adopted Amendments: N.J.A.C. 19:31-9.1, 9.2, 9.3, 9.4, 9.5, 9.6, 9.7, 9.8, 9.9, 9.10 and 9.11
Adopted New Rules: 19:31-9.10, 9.11 and 9.13
Adopted Repeals: N.J.A.C. 19:31-9.12 and 9.13
Urban Transit Hub Tax Credit Program
The adopted amendments and new rules for the Urban Transit Hub Tax Credit Program are based on statutory revisions to the Urban Transit Hub Tax Credit Act, P.L. 2007, c. 346, enacted pursuant to P.L. 2009, c. 90.
Adopted Amendments N.J.A.C. 19:30-6.1
Administrative Rules/Fees
The adopted amendment establishes a fee to cover the administrative costs for the review and approval of proposed projects and long-range maintenance plans submitted by institutions of higher education pursuant to P.L. 2009, c. 90.
Adopted Concurrent New Rules N.J.A.C. 19:31-5 and 6
InvestNJ Business Grant Program/Main Street Business Assistance Program
The adopted new rules, with substantive changes, implement the requirements of the InvestNJ Business Grant Program Act and Main Street Business Assistance Program Act to provide financial assistance, on an expedited basis, to businesses facing severe fiscal challenges as a result of the current national economic crisis.
Adopted Amendments N.J.A.C. 19:31-3.1
Fund for Community Economic Development
The proposed rule amendments would expand the Loans to Lenders component of the Fund for Community Economic Development to include certain financing for grocery stores and supermarkets in urban areas.
Adopted New Rules N.J.A.C. 19:31-9
Urban Transit Hub Tax Credit Program
The adopted new rules implement the Urban Transit Hub Tax Credit Act - P.L. 2007, c. 346 - which establishes a tax credit program for capital investment and increased employment in targeted urban rail transit hubs to catalyze economic development in those transit hubs.
Adopted Amendments N.J.A.C. 19:30-6.1, 6.2, 6.3, 6.6, 19:31-2.1, 2.5, 4.1, 4.2, 4.3, 7.3 and 10.12
Fees on Loan and Guarantee Products and BEIP
The adopted rule amendments implement pricing changes for various EDA loan and guarantee programs as well as the Business Employment Incentive Program (BEIP).
Adopted Amendments N.J.A.C. 19:31-3.1
Direct Loan Program; New Jersey Urban Plus
The EDA has amended its rules to establish a maximum lending limit of $5 million under the Urban Plus loan product for certain projects with a capital investment of over $70 million exclusive of EDA financing.
Adopted Amendments N.J.A.C. 19:31-3.1, 3.2, 4.1 and 7.5
Terms and Interest Rates for Direct Loan Participations
The EDA has adopted its rules to remove previously published terms and interest rate floors for all its loans, excluding those determined by statute, and to reflect that the Authority, through official action of the Board, will implement future interest rate and term changes.
Adopted Amendments N.J.A.C. 19:31-12.2 and 12.4
Technology Business Tax Certificate Transfer Program
The adopted rule amendments to the Technology Business Tax Certificate Program are intended to focus available assistance on small, New Jersey based, technology and biotechnology companies most likely to achieve long-term success.
Adopted Amendments: N.J.A.C. 19:31-2.1 and 3.1
Exposure Limits for Direct Loan Participations and Guarantees
The EDA has amended its rules to implement market-based increases in its maximum direct loan participations and guarantees.
Adopted Amendments N.J.A.C. 19:31-3.1 and 3.5
Direct Loan Program; New Urban and Technology Loan Products
The EDA has adopted two rule amendments to establish a new urban loan product and new technology and life sciences loan product.
Adopted Amendments: N.J.A.C. 19:31-10.2, 10.4, 10.5, 10.6 and 10.7/Adopted Repeal and New Rule: N.J.A.C. 19:31-10.11
Business Employment Incentive Program; Definitions; Amount/Term of Grant; Business Expansion or Relocation; Grant Conditions; Application Procedures; Prevailing Wages; Fees
The EDA has amended the rules for the Technology Business Tax Certificate Transfer Program to more accurately reflect the intent of the program’s goal to stimulate and encourage private investment in emerging biotechnology and technology companies located in New Jersey.
Adopted Amendments: N.J.A.C. 19:30-6.7; and 19:31-3.1, 3.2, 8.2 through 8.10, and 8.12
The EDA has adopted amendments to its existing rules governing the ability to waive fees, the New Markets Tax Credit loan program, and the Hazardous Discharge Site Remediation Fund program, administered jointly with the New Jersey Department of Environmental Protection.
Adopted Amendment N.J.A.C. 19:31-12.3 and 12.5
This amendment was adopted by the NJEDA on Oct. 10, 2003, and is effective Nov. 3, 2003. It amends the rules for the Technology Business Tax Certificate Transfer Program to more accurately reflect the intent of the program with respect to eligibility requirements and the closing process.
Adopted Amendment N.J.A.C. 19:31-2.1, 2.3 and 2.4
These amendments were adopted by the EDA March 9, 2004, and is effective April 5, 2004. The Film Production Assistance Act amends the EDA's enabling statute to include new section N.J.S.A. 34:1B-178 to allow film projects to be eligible for loan guarantees through the Authority and outlines specific criteria requirements for project eligibility and approvals.
Adopted Amendment N.J.A.C. 19:31-12.3 and 12.5
This amendment was adopted by the NJEDA on Oct. 10, 2003, and is effective Nov. 3, 2003. It amends the rules for the Technology Business Tax Certificate Transfer Program to more accurately reflect the intent of the program with respect to eligibility requirements and the closing process.
Adopted Amendment N.J.A.C. 12A:31
These regulations governing the NJDA, with amendments, were adopted July 22, 2005 and are effective Aug. 15, 2005. Full text of the adopted regulations, with amendments, can be found in the Aug. 15, 2005 issue of The New Jersey Register.
Adopted Amendments N.J.A.C. 19:30 and N.J.A.C. 19:31
These regulations governing the NJDA, with amendments, were adopted July 22, 2005 and are effective Aug. 15, 2005. Full text of the adopted regulations, with amendments, can be found in the Aug. 15, 2005 issue of The New Jersey Register.
Adopted Amendment N.J.A.C. 19:31-3.1
This amendment governs the interest rate and term for loans administered under the New Markets Tax Credit loan program and ensures that it is in compliance with federal rules that govern the program, which was created by the Community Renewal Tax Relief Act of 2000 and implemented by a new section to the IRS Code. The law was proposed April 3, 2006 and adopted June 6, 2006, without change.