New Jersey § 24:6i-7

§ 24:6i-7.

a. (1) An organization issued a permit to operate a medical cannabis cultivator, medical

cannabis manufacturer, medical cannabis dispensary, or clinical registrant or that

employs certified medical cannabis handlers for transfer or delivery of medical cannabis

pursuant to section 27 of P.L.2019, c. 153 ( C.24:6I-20 ) shall not be eligible for a State or local economic incentive. (2) The issuance of a permit to operate a medical cannabis cultivator, medical cannabis

manufacturer, cannabis dispensary, or clinical registrant or a certification to a

handler employed by any entity to perform transfers or deliveries of medical cannabis

pursuant to section 27 of P.L.2019, c. 153 ( C.24:6I-20 ) to an organization that has been awarded a State or local economic incentive shall

invalidate the right of the organization to benefit from the economic incentive as

of the date of issuance of the permit, except that an academic medical center that

has entered into a contractual relationship with a clinical registrant shall not have

any right to benefit from an economic incentive invalidated pursuant to this paragraph

on the basis of that contractual relationship. b. (1) A property owner, developer, or operator of a project to be used, in whole

or in part, as a medical cannabis cultivator, medical cannabis manufacturer, medical

cannabis dispensary, or clinical registrant or an entity that employs medical cannabis

handlers to perform transfers or deliveries of medical cannabis pursuant to section

27 of P.L.2019, c. 153 ( C.24:6I-20 ) shall not be eligible for a State or local economic incentive during the period

of time that the economic incentive is in effect. (2) The issuance of a permit to operate a medical cannabis cultivator, medical cannabis

manufacturer, medical cannabis dispensary, or clinical registrant or of a certification

to a medical cannabis handler employed by any entity to perform transfers and deliveries

of medical cannabis pursuant to section 27 of P.L.2019, c. 153 ( C.24:6I-20 ) at a location that is the subject of a State or local economic incentive shall invalidate

the right of a property owner, developer, or operator to benefit from the economic

incentive as of the date of issuance of the permit, except that an academic medical

center that has entered into a contractual relationship with a clinical registrant

shall not have any right to benefit from an economic incentive invalidated pursuant

to this paragraph on the basis of that contractual relationship. c. As used in this section: “ Business ” means any non-governmental person, association, for-profit or non-profit corporation,

joint venture, limited liability company, partnership, sole proprietorship, or other

form of business organization or entity. “ Governmental entity ” means the State, a local unit of government, or a State or local government agency

or authority. “ State or local economic incentive ” means a financial incentive, awarded by a governmental entity to a business, or

agreed to between a governmental entity and a business, for the purpose of stimulating

economic development or redevelopment in New Jersey, including, but not limited to,

a bond, grant, loan, loan guarantee, matching fund, tax credit, or other tax expenditure. “ Tax expenditure ” means the amount of foregone tax collections due to any abatement, reduction, exemption,

credit, or transfer certificate against any State or local tax.