TRENTON, N.J. – The Assembly voted to advance Assemblyman Jay Webber’s bill (A492) creating a standard definition of default across all loan programs to prevent the state from awarding additional subsidies to companies with a history of failing to pay. Current law prohibits the state from awarding a new subsidy...
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TRENTON, N.J. – A bill sponsored by Assemblyman Jay Webber that would prevent companies in default from receiving additional state subsidies cleared the Assembly Commerce and Economic Development Committee today. Current law prohibits the state’s awarding a new subsidy when a company is in “default” on a prior subsidy loan. But...