NJ Assembly Advances Controversial Tax Incentive Bill

Law360, New York (May 20, 2013, 7:28 PM EDT) -- The New Jersey General Assembly on Monday approved legislation to create new corporate tax incentives, advancing the controversial bill among criticism that it amounts to massive giveaways that don't measure up to its benefits and siphons needed funds from other areas.

A3680, known as the New Jersey Economic Opportunity Act of 2013, was approved in a 53-6-15 vote. The bill was conceived with the goal of bringing new jobs to the state, as New Jersey's 9.3 percent unemployment rate puts it among the five states with...
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