NJ A5534

Requires businesses receiving economic development subsidies exceeding $25,000 that cause environmental incidents (violations resulting in discharges to air, land, or water) to either pay the state or forfeit a portion of their subsidies equal to the greater of 20% of their total subsidies or the full costs to address the incident

Establishes the Environmental Incident Recovery Fund within the Department of Environmental Protection to collect payments and provide reimbursements to residents of communities impacted by environmental incidents for costs including remediation, housing relocation, air filtration systems, and mental health counseling

Empowers the Commissioner of Environmental Protection to issue compliance orders, bring civil actions, levy civil administrative penalties, and assess penalties up to $100,000 per day for violations of court or administrative orders

Requires all new economic development subsidy agreements entered into after the law takes effect to include provisions subjecting recipient businesses to these forfeiture and penalty requirements

Applies to agreements entered into on or after the operative date (first day of the sixth month following enactment), covering subsidies including bonds, grants, loans, loan guarantees, tax credits, and other tax expenditures administered by the New Jersey Economic Development Authority