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Governor Murphy Signs Legislation Revising Economic Incentives

219th Legislative Session Economic Development Updates Legislative Updates

On July 2, Governor Murphy signed A-5939 (Pintor Marin/Ruiz), which revises the "New Jersey Economic Recovery Act of 2020" to react to changes in the workplace due to the pandemic. The Chamber of Commerce Southern New Jersey (CCSNJ) was proud to support this needed legislation as it moved through the legislature.

Among other things, the bill modifies the eligibility requirements for how often workers must remain physically present in the office from 80 percent of their time to 60 percent. The bill also revises the definition of “microbusiness” in the Main Street Recovery Finance Program to include businesses with less than $1.5 million in annual gross revenue, as opposed to $1 million. This will give more small businesses the opportunity to participate in this program.

To learn more about the Economic Recovery Act Programs, click here.
 
To read the CCSNJ position, click here. 


Should you have any questions, please contact Hilary Chebra, Manager of Government Affairs at hchebra@chambersnj.com.  
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