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NJ S895
Bill
Status
1/13/2026
Primary Sponsor
Michael Testa
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AI Summary
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New Jersey Economic Development Authority (EDA) gains oversight of municipal development programs when a local official is convicted of, indicted for, or charged with public corruption under federal or state law
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EDA must appoint an economic and community development monitor for 3 years if notified of a single corruption-related charge; mandatory immediate appointment required for 3 or more charges within a 3-year period
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Monitors receive authority to approve, prohibit, or condition real property sales, redeveloper agreements, financial agreements, and property tax exemption arrangements
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Covered programs include municipal economic development, housing, community development, redevelopment agencies, housing authorities, and nonprofit corporations with municipal board appointments
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Law applies retroactively to convictions, indictments, and charges occurring within 3 years prior to enactment, and the EDA chief executive officer may implement requirements without full authority approval
Legislative Description
Provides for EDA oversight and control over certain local economic development, community development, and housing programs if corruption is suspected following criminal charge or conviction of local official.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
1/13/2026