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*** TUESDAY ADVISORY *** ASSEMBLY COMMITTEE TO CONTINUE MOVING 'BACK TO WORK NJ' JOBS & ECONOMIC GROWTH PACKAGE (TRENTON) - The Assembly Budget Committee on Tuesday will continue advancing the Legislature's "Back to Work NJ" economic development package by moving a series of bills aimed at economic development and corporate tax reform. The hearing is set for 1 p.m. Tuesday, Dec. 14 in Committee Room 11 in the State House Annex. It will be streamed live at http://www.njleg.state.nj.us/media/live_audio.asp. Assembly Speaker Sheila Y. Oliver (D-Essex/Passaic) and Senate President Stephen M. Sweeney (D-Gloucester/Salem/Cumberland) announced the job-creation and pro-business agenda at a State House press conference on Nov. 24. Tuesday's hearing will be the second of several to advance initiatives. Tuesday's bills include: A-1676 Greenwald/Milam/ Spencer/Chiusano Provides single sales fraction for corporation business tax income allocation formula and establishes airline-specific sales fraction. A-3143 Greenwald/Quijano/ Lampitt/Ramos Extends eligibility of investors in certain business or housing projects for tax credits under "Urban Transit Hub Tax Credit Act" and "New Jersey Economic Stimulus Act of 2009." A-3295 Coutinho/Quigley/ Wagner/Watson Coleman Expands availability of general development plan approvals and long-term vesting of preliminary and final site plan approvals in Smart Growth areas. A-3389 (1R) Oliver/Coutinho/Bucco /Bramnick Revises financial assistance under Business Retention and Relocation Assistance Grant Program; repeals requirement to study implementation. A-3535 Greenwald/Barnes/ Johnson/Pou Consolidates certain business-related categories of gross income and provides 20 year carry forward of certain net losses under gross income tax. A-3592 Quijano/Schaer/Albano/ DeAngelo "New Jersey Angel Investor Tax Credit Act;" provides credits against corporation business and gross income taxes for investing in New Jersey emerging technology businesses. A-3594 Giblin/Voss/Jasey Directs New Jersey Economic Development Authority and Commission on Higher Education to promote the establishment of higher education and business partnerships. |
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