Economic Opportunity Act II Comes Hard On Heels Of Its Progenitor

State Sen. Ray Lesniak

State Sen. Ray Lesniak

by Tara Nurin / NJ Spotlight

A Senate committee has unanimously passed a revised version of the Economic Opportunity Act, just two months after Gov. Chris Christie signed into law the sweeping overhaul of the state’s system of awarding business subsidies.

The original sponsor of the bill, Sen. Raymond Lesniak (D-Union), introduced the revision in part to correct several provisions he disagreed with in the final version of the New Jersey Economic Opportunity Act of 2013. After hearing testimony from approximately a half-dozen speakers, the Senate Economic Growth Committee signed off on the reworked legislation, which the senator is calling “Economic Opportunity Act II.”

The bill revisits and revises the affordable housing component included in the original, and does the same with the hospital subsidy, which offers tax incentives to companies and organizations that reopen shuttered healthcare facilities that left a void in their communities when they closed.

Read the full story at NJ Spotlight

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