New Jersey § 34:1b-301

§ 34:1b-301.

Beginning the year next following the year in which sections 20 through 34 of P.L.2020, c. 156 ( C.34:1B-288 through C.34:1B-302 ) take effect 1 and every two years thereafter, the authority shall prepare a report on the implementation

of the program, and submit the report to the Governor, and, pursuant to section 2

of P.L.1991, c. 164 ( C.52:14-19.1 ), to the Legislature. Each biennial report required under this section shall include the names and locations

of qualified businesses receiving capital; the amount of each qualified investment;

a report by a certified public accountant, who is licensed in accordance with the

“Accountancy Act of 1997,” P.L.1997, c. 259 ( C.45:2B-42 et seq. ), or licensed in accordance with the laws of another state, of the consolidated performance

of the fund; the cumulative amount of capital committed by purchasers; the rate

and amount of fees charged by each qualified venture firm, including performance-based

earnings and carried interest; the classification of each qualified business, according

to the industrial sector and the size of the qualified business; the State's return

on investment; the total number of jobs created in the State by the qualified business

after the qualified investment; the average wages paid for the jobs; and any other

metrics the authority determines are relevant based upon national best practices. 1

L.2020, c. 156, eff. Jan. 7, 2021.