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NJ S273
Bill
Status
Introduced
1/13/2026
Primary Sponsor
Shirley Turner
Click for details
AI Summary
- Corporations classified as "inverted domestic corporations" under IRS section 7874 would be ineligible for State contracts, subcontracts, or development subsidies paid with New Jersey State funds or independent State authority funds
- All corporations seeking State contracts must certify in writing that they are not inverted domestic corporations
- Development subsidy applicants must submit a standing certificate attesting to their legal status, with annual recertification required throughout the subsidy term
- Recipients who become inverted domestic corporations during a development subsidy term must repay the total value of the subsidy
- Provisions would not apply if they conflict with federal law or prevent the State from receiving federal funds
Legislative Description
Prohibits award of State contracts and development subsidies to inverted domestic corporations.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
1/13/2026
Committee Referrals
State Government, Wagering, Tourism & Historic Preservation1/13/2026
Full Bill Text
No bill text available