New Jersey § 18a:71c-70
Full text of New Jersey New Jersey Statutes § 18a:71c-70, with citation guidance and answers to common questions.
§ 18a:71c-70.
a. A person who meets the eligibility requirements under section 3 of this act and
has been selected by the executive director or his designee for participation in the
program shall enter into a written contract with the authority. The contract shall specify the dates of required employment by the program participant
in a designated high-growth STEM occupation and shall require the program participant
to serve at least one year in a designated high-growth STEM occupation. b. Prior to the annual redemption of loan indebtedness: (1) the program participant shall submit to the authority certification of full-time
employment in a designated high-growth STEM occupation for the full year period;
and (2) the employer of the program participant shall pay the annual matching contribution
to the authority in an amount equal to or greater than the $1,000 annual State-funded
loan redemption benefit. c. Upon certification that a program participant has met all criteria for the annual
redemption of loan indebtedness under the program, the authority shall combine the
employer matching contribution and the State appropriated funds into a single payment
to redeem a portion of the participant's loan. d. A program participant, as a condition of participation, shall be required to adhere
to performance standards established by the executive director or his designee. e. A program participant shall be eligible for participation in the program for four
years, even if the occupation in which the person is employed is no longer a designated
high-growth STEM occupation.
Frequently Asked Questions About New Jersey § 18a:71c-70
What does New Jersey Statutes § 18a:71c-70 cover?
Section 18a:71c-70 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:71c-70?
A common citation format is "New Jersey Statutes § 18a:71c-70" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:71c-70 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.