reglab/housing_qa huggingface dataset:
NJ Rev Stat § 34:1B-32 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-32 - Study of best means to encourage employee stock ownership plans

34:1B-32. Study of best means to encourage employee stock ownership plans  The Department of Labor and Industry is directed to undertake a study as to the best means of providing encouragement and assistance to the formulation of employee stock ownership plans providing for the partial or total acquisition, through purchase, distribution in lieu of compensation or a combination of these or any other lawful means, of shares of stock or other instruments of equity in facilities by persons employed at these facilities in cases in which operations at these facilities would, absent employee equity ownership, be terminated, relocated outside of the State, or so reduced in volume as to entail the permanent layoff of a substantial number of the employees. L.1981, c. 82, s. 3, eff. March 25, 1981.
NJ Rev Stat § 34:1B-33 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-33 - Conduct of study; considerations, consultations and investigations

34:1B-33. Conduct of study; considerations, consultations and investigations  In conducting its study, the department shall: a. consider Federal and State law relating directly or indirectly to these plans, and to the organization and operation of any trusts established pursuant thereto, including but not limited, to the Federal Internal Revenue Code and any regulations promulgated thereunder, the Federal Securities Act of 1933 and other Federal statutes providing for regulation of the issuance of securities, the Federal Employee Retirement Income Security Act of 1974, the Chrysler loan guarantee legislation enacted by the United States Congress in 1979, and other Federal and State laws relating to employment, compensation, taxation and retirement; b. consult with relevant persons in the public sector, including but not limited to, officers and employees of the New Jersey Economic Development Authority and of the Division of Economic Development in the Department of Labor and Industry, with relevant persons in the private sector, including trustees of any existing employee stock ownership trust and employees of any firm operating under such a trust, and with members of the academic community and of relevant branches of the legal profession; c. examine the experience of trusts organized pursuant to an employee stock ownership plan in this State or in any other state; and, d. make other investigations as it may deem necessary in carrying out the purposes of this act. L.1981, c. 82, s. 4, eff. March 25, 1981.
NJ Rev Stat § 34:1B-34 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-34 - Development of plan

34:1B-34. Development of plan  Pursuant to the findings and conclusions of the study conducted as provided in sections 3. and 4. of this act, the Department of Labor and Industry shall develop a plan to encourage and assist the formulation of employee stock ownership plans providing for the acquisition by employees thereof of facilities in this State which are subject to closure or drastically curtailed operation and shall determine the amount of any costs of implementing the plan. L.1981, c. 82, s. 5, eff. March 25, 1981.
NJ Rev Stat § 34:1B-35 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-35 - Annual reports to legislature

34:1B-35. Annual reports to legislature  The Commissioner of the Department of Labor and Industry shall within 1 year of the effective date of this act report the findings and conclusions of the study, together with details of the plan developed pursuant thereto, to the Legislature, and shall include in his report any recommendations for legislation which he deems appropriate. Thereafter the commissioner shall annually submit to the Legislature a report concerning the formation of new employee stock ownership trusts and the operation of existing employee stock ownership trusts in this State, and shall include in the report on account of State activity, during the previous year, in connection with these trusts. L.1981, c. 82, s. 6, eff. March 25, 1981.
NJ Rev Stat § 34:1B-36 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-36 - Short title

34:1B-36. Short title  This act shall be known and may be cited as the "New Jersey Local Development Financing Fund Act." L.1983, c. 190, s. 1, eff. May 23, 1983.
NJ Rev Stat § 34:1B-39 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-39 - Establishment of fund; source of deposits; use of funds

34:1B-39. Establishment of fund; source of deposits; use of funds  There is established the New Jersey Local Development Financing Fund, a special depository fund into which shall be deposited moneys for carrying out the purposes of this act. The fund shall be continuing and nonlapsing. The State Treasurer shall hold and account for the fund. The State Treasurer shall upon certification of the commissioner and warrant of the Director of the Division of Budget and Accounting pay from the fund to a sponsor the amount of moneys approved by the commissioner to be used for the support of projects as provided in this act. Moneys which may be deposited into the fund shall include, but are not limited to, the following: (1) Proceeds from the sale of bonds which may be authorized by the State; (2) Appropriations made by the Legislature; (3) Funds provided by the Federal Government; (4) Loan repayments, dividends and interest received in connection with loans and investments made pursuant to the provisions of this act; and (5) Other funds which may be made available for the purpose of carrying out the provisions of this act. Moneys deposited in the fund may be used for any purpose of this act, including, but not limited to, the payment, if approved by the State Treasurer, of reasonable and necessary administrative expenses incurred by the Department of Commerce and Economic Development, but not to exceed in any fiscal year 1% of the amount authorized to the fund pursuant to the "Community Development Bond Act of 1982" (P.L.1981, c. 486), and not provided by line item appropriation, in carrying out the provisions of this act, subject only to any agreements with the holders of particular bonds or notes. Moneys deposited in the fund may be invested in any direct obligations of, or obligations as to which the principal and interest thereof is guaranteed by, the United States of America or in such other obligations as the State Treasurer may approve. Moneys deposited in the fund shall be used to provide financial assistance to sponsors for the implementation of projects. Financial assistance provided by the fund shall be used to meet eligible project costs. L.1983, c. 190, s. 4, eff. May 23, 1983.
NJ Rev Stat § 34:1B-40 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-40 - Form, amount and terms of financial assistance; repayment

34:1B-40. Form, amount and terms of financial assistance; repayment  Financial assistance provided from the fund shall include, but not be limited to, loans, loan guarantees, grants, secondary mortgages and equity participation. The form, amount and terms of financial assistance provided shall be determined by the commissioner, subject to the availability of funds and requirements of this act. No more than 20% of the total financial assistance provided from the fund shall be in the form of grants or other nonlending assistance. Lending assistance from the fund shall be made on a revolving loan basis in order to assure the continued reutilization of the fund's resources. Any financial assistance provided from the fund to a participant through a sponsor shall be repaid to the fund by the participant on such terms as the commissioner shall determine. L.1983, c. 190, s. 5, eff. May 23, 1983.
NJ Rev Stat § 34:1B-41 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-41 - Criteria for evaluating and ranking applications for financial assistance

34:1B-41. Criteria for evaluating and ranking applications for financial assistance  The commissioner shall evaluate and rank each application for financial assistance for a project in accordance with the following criteria: a. Primary criterion: (1) The number of unemployed persons in the municipality in which the project is to be located. b. Secondary criteria: (1) The number of permanent jobs to be created or maintained directly by the project, excluding the period of construction or development; (2) The number of jobs preserved by the completion of the project in the case of an existing enterprise; (3) The increase in the valuation of real property in the municipality as a result of the completion of the project; (4) The percentage of the total eligible project cost to be financed from private resources; (5) The percentage of total eligible project cost to be financed by federal aid; and (6) Whether the project will result in the maintenance or provision of at least the same number of housing units at comparable rates as exists prior to the undertaking of the project. c. Other criteria: (1) Whether the project will be located in an area targeted for economic development and receiving federal, State or local development incentives under other programs; (2) The extent to which the project will contribute to an economic revitalization of a municipality or region; (3) The extent to which the project will promote the rehabilitation of the physical environment of the immediate area in which it is to be located; (4) The degree to which the project will advance State or regional planning and development strategies; (5) The extent to which the location of the project is accessible to and promotes the use of public transportation; and (6) The degree of community support for and participation in the planning of the project. L.1983, c. 190, s. 6, eff. May 23, 1983.
NJ Rev Stat § 34:1B-42 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-42 - Schedule of application periods; ranking of applications; finding of feasibility

34:1B-42. Schedule of application periods; ranking of applications; finding of feasibility  The commissioner shall annually establish a schedule of discrete application periods for the next year, provided that no period shall be less than one month nor more than six months. At the end of each application period, the commissioner shall rank and order all applications received during the period, after evaluation of each application in accordance with the specific criteria provided in section 6 of this act and, if a project is justified in relation to competing applications and the amount of funds available, the commissioner shall make a preliminary finding of feasibility and communicate to the applicant sponsor any recommended changes in the project plan and any conditions to the provision of assistance under this act, not inconsistent with this act or any other law. An application which does not receive a preliminary finding of feasibility within an application period shall be considered rejected, and shall be eligible for consideration in any future evaluation of projects only upon the submission of a new application. L.1983, c. 190, s. 7, eff. May 23, 1983.
NJ Rev Stat § 34:1B-43 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-43 - Project plan; contents; determinations prior to final approval

34:1B-43. Project plan; contents; determinations prior to final approval  a. Prior to final approval of financial assistance under this act, the project sponsor shall file with the commissioner a project plan which shall provide such information as the commissioner deems necessary, and which shall include: (1) A marketability and proposed land-use study supported by appropriate appraisal reports; (2) A plan for the utilization of minority contractors and assurance of equal opportunity for employment in connection with the project; (3) A statement of the impact of the project on the natural, historic and social environment; (4) Where applicable, a plan for relocating project area residents; (5) Any additional information, drawings, plans, reports, or estimates which the commissioner may require; (6) A statement of the impact of the project on the State transportation system, including provisions concerning access to public transportation and impact on highway capacity and traffic flow; (7) A statement of the impact of the project on energy consumption and of measures included to promote energy conservation; (8) Evidence of the fiscal stability of the participants in the project, other than the sponsor, including the posting of a bond by the participants, and such other evidence as the commissioner shall require; and (9) A resolution in support of the project by the governing body of the municipality in which the project is to be located. b. Prior to the issuance of final approval of financial assistance under this act, the commissioner shall determine: (1) that the commitment of private resources to the project is guaranteed as to the amount of these resources and as to the schedule of their availability for meeting project costs and that these private resources will provide at least 50% of the total eligible project cost; (2) that the project has met or is reasonably assured of meeting the requirements of any pertinent law, ordinance and administrative regulation, including but not limited to environmental protection and affirmative action requirements; (3) that the project would not be undertaken but for the provision of that financial assistance and that the project would not be undertaken in its intended scope without the provision of financial assistance pursuant to this act and will be economically viable with this assistance; (4) that there exists adequate assurance of repayment of financial assistance where repayment is required; and (5) that the participants in the project are of a good moral character. At the same time he shall furnish his findings to the presiding officers of both houses of the Legislature and to the Director of the Division of Budget and Program Review in the Office of Legislative Services. L.1983, c. 190, s. 8, eff. May 23, 1983.
NJ Rev Stat § 34:1B-44 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-44 - Approval or disapproval of application; notice

34:1B-44. Approval or disapproval of application; notice  Upon receipt of any revised project plan prepared as a result of any recommendations made pursuant to the provisions of section 7 of this act, and of any information required pursuant to the provisions of section 8 of this act, the commissioner shall approve or disapprove any application by a sponsor for designation of a project as an eligible project and for assistance to that project under this act. The commissioner shall within 10 days of his approval or disapproval: (1) transmit notice thereof to the sponsor, to the presiding officers of both houses of the Legislature and to the Director of the Division of Budget and Program Review in the Office of Legislative Services; and (2) in the case of the approval of a project as an eligible project, transmit to the State Treasurer a copy of the notice of his approval, together with a statement of his determination, pursuant to section 5 of this act, of the terms of financial assistance. L.1983, c. 190, s. 9, eff. May 23, 1983.
NJ Rev Stat § 34:1B-45 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-45 - Arrangement for financial assistance; repayment

34:1B-45. Arrangement for financial assistance; repayment  Upon receipt of a copy of the notice of approval of a project as an eligible project and accompanying statement of the terms of financial assistance, the State Treasurer shall arrange with the sponsor of the eligible project the provision of financial assistance for which the project has been approved. The terms of financial assistance shall require that any assistance from the fund provided by the sponsor to a participant shall be repaid to the fund by the participant. L.1983, c. 190, s. 10, eff. May 23, 1983.
NJ Rev Stat § 34:1B-46 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-46 - Report

34:1B-46. Report  The commissioner shall require each sponsor of an eligible project receiving assistance from the New Jersey Local Development Financing Fund pursuant to the provisions of this act annually to submit a report of the sponsor's activities undertaken in furtherance of the purposes of this act. L.1983, c. 190, s. 11, eff. May 23, 1983.
NJ Rev Stat § 34:1B-47 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-47 - Findings, declarations

34:1B-47. Findings, declarations  The Legislature finds and declares:  a. That entrepreneurship is a vital component of the national heritage that fosters the health and dynamism of the overall economy;  b. That despite their contribution as major generators of employment, small businesses are struggling to survive in the private sector;  c. That due to a historical legacy of disregard and discrimination, minorities and women control a disproportionately small fraction of the productive resources of the State and are therefore largely excluded from the mainstream of the overall economy;  d. That the problems of inadequate capital and management expertise that pertain to businesses owned by minorities and women are the same problems that pertain, in varying degrees, to all small businesses;  e. That the public sector at both the national and State levels has recognized the appropriateness of the role of encouraging small businesses generally and women and minorities in particular;  f. That the continuing disparity of capital accumulation in the South Jersey region has hampered the survival of small entrepreneurs and the economic development and independence of minorities and women, and has limited opportunities for enterprise development by individuals from each of these populations;  g. That economic development within the small business and minority communities and among women increases the prosperity of the entire State by generating revenues and reducing the State burden of unemployment, welfare and other supportive social services;  h. That in order to promote these goals it is necessary to establish a permanent government entity, an authority, with a long-term mandate for the delivery of financial and overall assistance to small businesses and businesses owned by minorities and women;  i. That the authority shall focus efforts clearly on areas of greatest need and shall have a commitment toward the establishment of quality programs; j. That the authority shall be responsible, both directly and as an intermediary, for providing financing and for coordinating a wide range of intensive and ongoing business expertise;  k. That the authority shall pursue its mandate in accordance with a well-conceived business strategy and underwriting standards that approximate those utilized by traditional lenders;  L. That the authority's success in fulfilling its mandate shall be measured by the ultimate viability of the enterprises it assists.  L. 1985, c. 386, s. 1, eff. Dec. 18, 1985.
NJ Rev Stat § 34:1B-48 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-48 - Definitions

34:1B-48. Definitions  For the purposes of this act:  a. "Authority" means the New Jersey Development Authority for Small Businesses, Minorities and Women's Enterprises established pursuant to the provisions of this act;  b. "Board" means the board of directors of the New Jersey Development Authority for Small Businesses, Minorities and Women's Enterprises established pursuant to the provisions of this act;  c. "Eligible business" means a small business or a minority or women's business determined to be eligible to receive assistance and participate in programs according to the standards established pursuant to this act;  d. "Minority" means a person who is:  (1) Black, which is a person having origins in any of the black racial groups in Africa; or  (2) Hispanic, which is a person of Spanish or Portuguese culture, with origins in Mexico, South or Central America, or the Caribbean islands, regardless of race; or  (3) Asian-American, which is a person having origins in any of the original peoples of the Far East, Southeast Asia, and Indian subcontinent, Hawaii, or the Pacific Islands; or  (4) American Indian or Alaskan native, which is a person having origins in any of the original peoples of North America;  e. "Minority business" means a business in which at least 51% of the beneficial ownership of the business is held by minorities, and in which the majority of the management are minorities;  f. "Small business" means a business in which at least 51% of the beneficial ownership of the business is held by persons other than minorities or women and the majority of the management of which is other than minorities or women, and which business is of a type and size defined by the Commissioner of the Department of Commerce and Economic Development as a small business, which definition shall be similar to that of the federal Small Business Administration;  g. "Women" means a woman, regardless of race;  h. "Women's business" means a business in which at least 51% of the beneficial ownership of the business is held by women, and in which the majority of the management are women.  L. 1985, c. 386, s. 2, eff. Dec. 18, 1985.
NJ Rev Stat § 34:1B-51 (2021)
2021 New Jersey Revised Statutes|Title 34 - Labor and Workmen's Compensation|Section 34:1B-51 - Loans, other extensions of credit

34:1B-51. Loans, other extensions of credit  a. The authority may make long-term or short-term loans or other extensions of credit to eligible businesses under terms and conditions established by the authority. The authority shall establish uniform underwriting standards for loans and other extensions of credit, which shall include minimum equity requirements, and the use by the businesses of an approved accounting system. The authority may, either as a condition of granting the loan or at any time during the term of the loan, and in conjunction with the Commissioner of the Department of Commerce and Economic Development, require the use by the businesses of technical assistance approved by it.  b. The authority may cooperate with the New Jersey Economic Development Authority and the federal Small Business Administration in arranging assistance for eligible businesses or may participate with these agencies in providing loans or other extensions of credit to eligible businesses.  c. The authority may contract with any depository institution to maintain a portion of its funds on deposit for a specified period of time at a specified rate of interest as part of an arrangement whereby the depository institution agrees to make loans or other extensions of credit to eligible businesses, except that the compensating balance so deposited shall not be treated as a guarantee.  L. 1985, c. 386, s. 5, eff. Dec. 18, 1985.