reglab/housing_qa huggingface dataset:
NJ Rev Stat § 34:1B-296 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-296 - Application process.

34:1B-296 Application process.  28. a. The authority shall establish an application process and determine the form and manner through which a venture firm may make and file an application for certification as a qualified venture firm. The authority may accept applications on a rolling basis or on a date set by the authority. b. In evaluating applicants for certification as a qualified venture firm, the authority shall establish weighted criteria by which the authority will evaluate all venture firms applying in the same calendar year and shall establish a minimum acceptable score. The criteria shall include, but not be limited to: (1) the management structure of the applicant, including: (a) quality of the leadership, including willingness to work with the authority to support targeted industries and the innovation ecosystem in the State, and to locate in the State; (b) the investment experience of the principals with qualified businesses; (c) the knowledge, experience, and capabilities of the applicant in subject areas relevant to high-growth businesses in the State; (d) the tenure and turnover history of principals and senior investment professionals of the applicant; (e) whether the State's investment with the applicant under this program would exceed 15 percent of the total invested in the applicant by all investors, including investments in any special purpose vehicles; (f) the applicant's stage of fundraising; and (g) whether fees, expenses, and the remuneration of the general partner or manager are similar to those of peer investors;  (2) the applicant's investment strategy, including: (a) the applicant's track record of investing in high-growth businesses; (b) whether the investment strategy of the applicant is focused on high-growth businesses, including the percentage of the investment identified to be invested in New Jersey or surrounding geographic areas; and  (c) the performance history of the general partner or fund manager based on a review of investment returns on individual funds on an absolute basis and relative to peers; and (3) The location of the applicant's venture firm and the proposed structure of the applicant venture firm's investments in qualified businesses, with preference given to applicant venture firms that are located in incentive areas and to applicant venture firms that agree to dedicate a greater portion of qualified investments into qualified businesses located within incentive areas. L.2020, c.156, s.28.
NJ Rev Stat § 34:1B-297 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-297 - Criteria for qualified venture firm.

34:1B-297 Criteria for qualified venture firm.  29. a. The authority shall certify or refuse to certify a venture firm as a qualified venture firm based on the criteria for certification set forth in section 28 of P.L.2020, c.156 (C.34:1B-296), and subsections b. and c. of this section.  b. The authority shall not certify a venture firm as a qualified venture firm if the venture firm has: (1) an equity capitalization, net assets, or written commitments of less than $10,000,000 in the form of cash or cash equivalents on the date the determination for certification is made; or (2) fewer than two principals or persons employed to direct the qualified investment of capital with at least five years of money management experience in the venture capital or private equity sectors on the date the determination for certification is made. The authority may adopt, pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), rules setting forth additional disqualifying criteria and adjusting the minimum equity capitalization, net assets, or written commitments of a qualified venture firm. c. Prior to certifying a venture firm as a qualified venture firm, the authority shall confirm with the Department of Labor and Workforce Development, the Department of Environmental Protection, and the Department of the Treasury whether the venture firm is in substantial good standing with the respective department, or has entered into an agreement with the respective department that includes a practical corrective action plan for the venture firm. The authority may also contract with an independent third party to perform a background check on the venture firm. d. The authority shall provide written notification to each venture firm that is certified as a qualified venture firm by the authority and shall provide written notification to each venture firm that the authority refuses to certify as a qualified venture firm, communicating in detail the grounds for the authority's refusal. The authority shall review each qualified venture firm annually for the disqualifying criteria set forth in subsection b. of this section or other reasonable industry-accepted standards as determined by the authority. The authority may decertify a qualified venture firm at any time pursuant to the disqualifying criteria set forth in subsection b. of this section. Decertification shall not affect any previously made qualified investment or the fund's commitment to make a follow-on investment in a qualified business.  L.2020, c.156, s.29; amended 2021, c.160, s.12.
NJ Rev Stat § 34:1B-300 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-300 - New Jersey Innovation Evergreen Advisory Board.

34:1B-300 New Jersey Innovation Evergreen Advisory Board.  32. The New Jersey Innovation Evergreen Advisory Board is established in but not of the authority for the purposes of providing guidance and networking opportunities to qualified businesses. The members of the board shall serve in a voluntary capacity, to be appointed through a process to be determined by the chief executive officer of the authority from among purchasers and other strategic partners identified by the chief executive officer, to support the State's innovation ecosystem. The terms of the voluntary members so appointed, after the initial appointments, shall be one year, and each member may be reappointed. L.2020, c.156, s.32.
NJ Rev Stat § 34:1B-301 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-301 - Report on implementation of program.

34:1B-301 Report on implementation of program.  33. Beginning the year next following the year in which sections 20 through 34 of P.L.2020, c.156 (C.34:1B-288 through C.34:1B-302) take effect and every two years thereafter, the authority shall prepare a report on the implementation of the program, and submit the report to the Governor, and, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), to the Legislature. Each biennial report required under this section shall include the names and locations of qualified businesses receiving capital; the amount of each qualified investment; a report by a certified public accountant, who is licensed in accordance with the "Accountancy Act of 1997," P.L.1997, c.259 (C.45:2B-42 et seq.), or licensed in accordance with the laws of another state, of the consolidated performance of the fund; the cumulative amount of capital committed by purchasers; the rate and amount of fees charged by each qualified venture firm, including performance-based earnings and carried interest; the classification of each qualified business, according to the industrial sector and the size of the qualified business; the State's return on investment; the total number of jobs created in the State by the qualified business after the qualified investment; the average wages paid for the jobs; and any other metrics the authority determines are relevant based upon national best practices.  L.2020, c.156, s.33.
NJ Rev Stat § 34:1B-302 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-302 - Regulations.

34:1B-302 Regulations.  34. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to the contrary, the chief executive officer of the authority may adopt, immediately, upon filing with the Office of Administrative Law, regulations that the chief executive officer deems necessary to implement the provisions of sections 20 through 34 of P.L.2020, c.156 (C.34:1B-288 through C.34:1B-302), which regulations shall be effective for a period not to exceed 180 days from the date of the filing. The chief executive officer shall thereafter amend, adopt, or readopt the regulations in accordance with the requirements of P.L.1968, c.410 (C.52:14B-1 et seq.). L.2020, c.156, s.34.
NJ Rev Stat § 34:1B-303 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-303 - Short title.

34:1B-303 Short title.  35. Sections 35 through 42 of P.L.2020, c.156 (C.34:1B-303 through C.34:1B-310) shall be known and may be cited as the "Food Desert Relief Act." L.2020, c.156, s.35.
NJ Rev Stat § 34:1B-304 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-304 - Findings, declarations.

34:1B-304 Findings, declarations.  36. a. The Legislature finds and declares that: (1) there are certain areas of the State, known as "food desert" communities, in which residents are unable to obtain reasonable and adequate access to nutritious foods and, in particular, to fresh fruits and vegetables; (2) the inaccessibility of nutritious food in food desert communities has been attributed, in large part, to the absence of supermarkets and grocery stores in those communities; (3) low-income families are more likely than others to live in food desert communities and to lack the transportation or financial resources necessary to reach distant wholesome markets; and (4) the establishment of financial incentives to supermarkets, grocery stores, mid-sized food retailers, and small food retailers is a reasonable means by which to ensure that residents of food desert communities in the State are provided with reasonable access to nutritious, fresh, and delicious produce, and are afforded the opportunity thereby to make healthier eating choices for themselves and for their families. b. The Legislature therefore determines that it is both reasonable and necessary to authorize the New Jersey Economic Development Authority to establish a program that provides financial assistance to supermarkets, grocery stores, mid-sized food retailers, and small food retailers to establish and retain locations in food desert communities in order to provide a consistent, and easily accessible, source of fresh produce to residents in those communities. L.2020, c.156, s.36.
NJ Rev Stat § 34:1B-309 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-309 - Rules, regulations.

34:1B-309 Rules, regulations.  41. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to the contrary, the chief executive officer of the authority, in consultation with the department and the Director of the Division of Taxation in the Department of the Treasury, may adopt, immediately upon filing with the Office of Administrative Law, rules and regulations necessary to carry out the provisions of sections 35 through 42 of P.L.2020, c.156 (C.34:1B-303 through C.34:1B-310), which rules and regulations shall be effective for a period not to exceed 360 days from the date of the filing. The chief executive officer shall thereafter amend, adopt, or readopt the rules and regulations in accordance with the requirements of P.L.1968, c.410 (C.52:14B-1 et seq.).  L.2020, c.156, s.41; amended 2021, c.160, s.17.
NJ Rev Stat § 34:1B-310 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-310 - Annual report.

34:1B-310 Annual report.  42. Within one year of the effective date of sections 35 through 42 of P.L.2020, c.156 (C.34:1B-303 through C.34:1B-310), the authority shall annually submit a report to the Governor, the State Treasurer, and, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), the Legislature, on the effectiveness of the program in establishing supermarkets and grocery stores in food desert communities. L.2020, c.156, s.42.
NJ Rev Stat § 34:1B-311 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-311 - Short title.

34:1B-311 Short title.  43. Sections 43 through 53 of P.L.2020, c.156 (C.34:1B-311 through C.34:1B-321) shall be known and may be cited as the "New Jersey Community-Anchored Development Act." L.2020, c.156, s.43.
NJ Rev Stat § 34:1B-316 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-316 - Submission of application by anchor institution.

34:1B-316 Submission of application by anchor institution.  48. a. Prior to March 1, 2027, an anchor institution and, if applicable, each partner anchor institution seeking a tax credit pursuant to the program shall submit an application to the authority in a form and manner prescribed in regulations adopted by the authority pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.). The authority shall accept and certify applications for tax credits during the award rounds established pursuant to section 49 of P.L.2020, c.156 (C.34:1B-317). b. The authority shall not consider an application for a community-anchored project unless the anchor institution and, if applicable, each partner anchor institution submits, with the application, a letter evidencing support for the community-anchored project from the governing body of the municipality in which the community-anchored project is located.  c. The authority shall review the project costs for a proposed community-anchored project and evaluate and validate the underlying financial structure proposed by the anchor institution and, if applicable, each partner anchor institution. The authority shall conduct a State fiscal impact analysis to ensure that the overall value of tax credits provided to the community-anchored project is projected to result in net benefits to the State, taking into account the current and deferred returns to the authority. The authority shall assess the cost of these reviews to the applicant. An anchor institution and, if applicable, each partner anchor institution shall pay to the authority the full amount of the direct costs of an analysis concerning the anchor institution's and, if applicable, each partner anchor institution's application for tax credits that a third party retained by the authority performs, if the authority deems such retention to be necessary.  d. If at any time during the eligibility period the authority determines that an anchor institution or a partner anchor institution made a material misrepresentation on the program application, the anchor institution or partner anchor institution shall forfeit or repay to the authority the value of tax credits associated with that application. L.2020, c.156, s.48.
NJ Rev Stat § 34:1B-319 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-319 - Awarding of base tax credit.

34:1B-319 Awarding of base tax credit.  51. a. Up to the limits established in subsection b. of this section and in accordance with a tax credit agreement, beginning upon the receipt of occupancy permits for any portion of the community-anchored project, or upon any other event evidencing project completion as set forth in the tax credit agreement, an anchor institution and, if applicable, each partner institution of an approved community-anchored project shall be awarded a base tax credit of $5,000,000 for conversion into an authority investment in the community-anchored project. b. An anchor institution and, if applicable, each partner institution may be allowed a tax credit in excess of the base amount, if approved by the authority, provided, however, the total tax credit allowed per community-anchored project shall not exceed $75,000,000 and the total investment of all State resources not including rent payments in a community-anchored project shall not exceed 40 percent of the total cost of the project. L.2020, c.156, s.51.
NJ Rev Stat § 34:1B-320 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-320 - Report by anchor institution.

34:1B-320 Report by anchor institution.  52. a. An anchor institution and, if applicable, each partner institution that is awarded a tax credit under sections 43 through 53 of P.L.2020, c.156 (C.34:1B-311 through C.34:1B-321) shall, commencing in the year in which the tax credit is awarded, and each year thereafter for the remainder of the eligibility period, submit a report indicating whether the anchor institution and, if applicable, each partner institution is aware of any condition, event, or act that would cause the anchor institution or partner institution not to be in compliance with the tax credit agreement or the provisions of sections 43 through 53 of P.L.2020, c.156 (C.34:1B-311 through C.34:1B-321) and any additional reporting requirements contained in the tax credit agreement or tax credit certificate. The anchor institution and, if applicable, each partner institution, or an authorized agent of the anchor institution or partner institution, shall certify under the penalty of perjury that the information provided pursuant to this subsection is true. b. (1) Upon receipt and review of each report submitted during the eligibility period, the authority shall provide to the anchor institution and, if applicable, each partner institution and the Director of the Division of Taxation in the Department of the Treasury a certificate of compliance indicating the amount of tax credits awarded to the anchor institution and, if applicable, each partner institution for conversion into an authority investment in the community-anchored project, that the anchor institution and, if applicable, each partner institution may: (a) offer for sale through the provision of a tax credit transfer certificate pursuant to section 53 of P.L.2020, c.156 (C.34:1B-321); or  (b) use as collateral or to secure any financial instrument approved by the authority to provide financing for the community-anchored project, if that use is in accordance with rules and regulations adopted by the authority, pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to govern the use of program tax credits. (2) Upon receipt by the director of the certificate of compliance, the director shall coordinate with the anchor institution and, if applicable, each partner institution and the authority to provide the anchor institution and, if applicable, each partner institution with a tax credit transfer certificate, as described in section 53 of P.L.2020, c.156 (C.34:1B-321), or a tax credit certificate for the value awarded by the authority for that year that the anchor institution and, if applicable, each partner institution may use as provided in paragraph (1) of this subsection b. and in accordance with the rules adopted pursuant to subparagraph (b) of paragraph (1) of this subsection.  L.2020, c.156, s.52.
NJ Rev Stat § 34:1B-321 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-321 - Application for tax credit transfer certificate.

34:1B-321 Application for tax credit transfer certificate.  53. a. An anchor institution and, if applicable, each partner institution may apply to the director and the chief executive officer of the authority for a tax credit transfer certificate, covering one or more years. The tax credit transfer certificate, upon receipt thereof by the anchor institution or partner institution from the director and the chief executive officer of the authority, may be sold or assigned, in full or in part, in the privilege period during which the anchor institution or partner institution receives the tax credit transfer certificate from the director, to another person, who may apply the credit against a tax liability pursuant to section 5 of P.L.1945, c.162 (C.54:10A-5), sections 2 and 3 of P.L.1945, c.132 (C.54:18A-2 and C.54:18A-3), section 1 of P.L.1950, c.231 (C.17:32-15), or N.J.S.17B:23-5. b. The anchor institution or partner institution shall not sell or assign, including a collateral assignment, a tax credit transfer certificate allowed under this section for consideration received by the anchor institution or partner institution of less than 85 percent of the transferred credit amount before considering any further discounting to present value which shall be permitted. The tax credit transfer certificate issued to an anchor institution or partner institution by the director shall be subject to any limitations and conditions imposed on the application of State tax credits pursuant to sections 43 through 53 of P.L.2020, c.156 (C.34:1B-311 through C.34:1B-321) and any other terms and conditions that the director may prescribe. c. A purchaser or assignee of a tax credit transfer certificate pursuant to this section may make any subsequent transfers, assignments, or sales of a tax credit transfer certificate for an amount to be negotiated with a subsequent purchaser or assignee. d. The authority shall publish on its Internet website the following information concerning each tax credit transfer certificate approved by the authority and the director pursuant to this section: (1) the name of the transferor; (2) the name of the transferee; (3) the value of the tax credit transfer certificate;  (4) the State tax against which the transferee may apply the tax credit; and (5) the consideration received by the transferor. L.2020, c.156, s.53.
NJ Rev Stat § 34:1B-322 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-322 - Short title.

34:1B-322 Short title.  54. Sections 54 through 67 of P.L.2020, c.156 (C.34:1B-322 through C.34:1B-335) shall be known and may be cited as the "New Jersey Aspire Program Act." L.2020, c.156, s.54.
NJ Rev Stat § 34:1B-324 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-324 - New Jersey Aspire Program.

34:1B-324 New Jersey Aspire Program.  56. a. The New Jersey Aspire Program is hereby established as a program under the jurisdiction of the New Jersey Economic Development Authority. The authority shall administer the program to encourage redevelopment projects through the provision of incentive awards to reimburse developers for certain project financing gap costs. The board may approve the award of an incentive award to a developer upon application to the authority pursuant to sections 58 and 59 of P.L.2020, c.156 (C.34:1B-326 and C.34:1B-327). The value of all tax credits approved by the authority pursuant to sections 54 through 67 of P.L.2020, c.156 (C.34:1B-322 through C.34:1B-335), shall be subject to the limitations set forth in section 98 of P.L.2020, c.156 (C.34:1B-362). b. The chief executive officer of the authority shall designate one staff member per government-restricted municipality in order to keep the municipality informed on activities within the municipality and to coordinate economic development initiatives. L.2020, c.156, s.56.