NJ S2730

Businesses receiving $25,000 or more in State development subsidies are prohibited from making campaign contributions to candidates for public office, political party committees, or legislative leadership committees in New Jersey

The prohibition extends to holding companies, affiliates, subsidiaries, officers, directors, key employees, and principal employees of recipient businesses during the period they receive subsidy benefits

Development subsidies include bonds, grants, loans, loan guarantees, matching funds, and tax expenditures for economic development, but exclude affordable housing, environmental programs, and nonprofit cultural/recreational facility funding

Violations constitute a fourth-degree crime with fines up to $200,000 for individuals or $500,000 for businesses; willful violations may result in forfeiture of the subsidy value and debarment from State contracts for up to five years

The Election Law Enforcement Commission is responsible for enforcement and rulemaking; candidates who knowingly solicit or accept prohibited contributions face penalties under existing campaign finance law