NJ S4529

Businesses receiving economic development subsidies worth more than $25,000 that commit environmental violations must either forfeit a portion of their subsidies or make a payment to the State

The forfeiture or payment amount equals the greater of 20% of the business's total economic development subsidies for that tax year or the full costs to address the environmental incident

Costs to address environmental incidents include environmental remediation, housing relocation for impacted residents, air filtration and fire suppression system installation, and mental health counseling for affected residents

Establishes an Environmental Incident Recovery Fund within the Department of Environmental Protection to receive payments and reimburse community residents for costs incurred from environmental incidents

Businesses that fail to comply forfeit all economic development subsidies for themselves and their affiliates until requirements are met; all future subsidy agreements must include provisions subjecting businesses to these requirements