New Jersey lawmakers are considering measures to extend the state’s expiring business tax incentive programs over Gov. Phil Murphy’s proposed overhaul.
The Assembly Commerce and Economic Development Committee on Thursday began considering legislation to extend the Economic Opportunity Act of 2013 beyond the June 30 expiration deadline.
Whether and how to extend the incentives is at the heart of a political dispute between the Democratic governor and the Democrat-led Legislature.
Gov. Murphy favors capping awards to businesses. Lawmakers question if the current system should be scrapped.
Making the situation tenser, Murphy launched a task force to investigate how the Chris Christie-era credits were doled out. At a hearing it raised questions about how companies tied to political powerbroker George Norcross got awards.
Norcross is suing Murphy and wants the task force disbanded.