NJ Agency Must Face Energy Co.'s Suit Over $26M Tax Credit

Law360 (July 31, 2020, 6:21 PM EDT) -- A New Jersey state judge on Friday kept alive an energy equipment manufacturer's suit against the state Economic Development Authority for withholding a $26 million tax break, saying the business could pursue claims that the agency has taken too long to render a decision.

Superior Court Judge Mary C. Jacobson largely rejected the EDA's bid to dismiss the suit over that credit for the 2018 tax year while it continues to evaluate Holtec International's eligibility after the company admittedly provided false information in applying for an overall award of $260 million over a decade. The credit at issue is the second...

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