New Jersey § 34:1b-115
Full text of New Jersey New Jersey Statutes § 34:1b-115, with citation guidance and answers to common questions.
§ 34:1b-115.
a. In addition to any grant of tax credits determined pursuant to section 7 of P.L.2004, c. 65 ( C.34:1B-115.3 ), a bonus award equivalent to 50% of the amount of the original grant of tax credits
shall be made to any business that relocates more than 2,000 full-time employees covered
by the project agreement from one or more locations outside of a designated urban
center into a designated urban center, provided that all other applicable requirements
of P.L.1996, c. 25 ( C.34:1B-112 et seq. ) are satisfied; and provided further that no grant of tax credits shall be awarded
pursuant to this section for any job that is moved from its current location in an
urban enterprise zone designated pursuant to the “New Jersey Urban Enterprise Zones
Act,” P.L.1983, c. 303 ( C.52:27H-60 et seq. ) to a location that is not within an urban enterprise zone; however, that if the
move from the urban enterprise zone is to a facility already owned or leased by the
same business and that business already employs at least the same number of persons
as those being relocated from the urban enterprise zone a grant of tax credits may
still be awarded pursuant to this section. b. In addition to any grant of tax credits determined pursuant to section 7 of P.L.2004, c. 65 ( C.34:1B-115.3 ), and in addition to any bonus award pursuant to subsection a. of this section, a
bonus award equivalent to 50% of the amount of the grant of tax credits pursuant to
section 7 of P.L.2004, c. 65 ( C.34:1B-115.3 ) shall be made to any business that makes a capital investment in an amount that
is at least twice that of the total value of the grant of tax credits granted pursuant
to section 7 of P.L.2004, c. 65 ( C.34:1B-115.3 ) and the grant of tax credits pursuant to this subsection. A bonus award made pursuant to this subsection may be limited, so that when added
to the tax credits granted pursuant to section 7 of P.L.2004, c. 65 ( C.34:1B-115.3 ), the total amount shall not exceed 50% of the amount of the capital investment in
this State.
Frequently Asked Questions About New Jersey § 34:1b-115
What does New Jersey Statutes § 34:1b-115 cover?
Section 34:1b-115 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 § 34:1b-115?
A common citation format is "New Jersey Statutes § 34:1b-115" (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 § 34:1b-115 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.