Bill Text: NJ S1209 | 2012-2013 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Permits NJ boat manufacturers to qualify for EDA loans for renewable energy technology, equipment, or systems.

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Enrolled - Dead) 2014-01-21 - Pocket Veto - Bills not Acted on by Governor-end of Session [S1209 Detail]

Download: New_Jersey-2012-S1209-Amended.html

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[First Reprint]

SENATE, No. 1209

STATE OF NEW JERSEY

215th LEGISLATURE

 

INTRODUCED JANUARY 23, 2012

 

 

Sponsored by:

Senator  JIM WHELAN

District 2 (Atlantic)

 

 

 

 

SYNOPSIS

     Permits NJ boat manufacturers to qualify for EDA loans for renewable energy technology, equipment, or systems.

 

CURRENT VERSION OF TEXT

     As reported by the Senate Economic Growth Committee on February 6, 2012, with amendments.

  

An Act authorizing boat manufacturers to qualify for loans from the New Jersey Economic Development Authority for the manufacture of wind turbines and supplementing P.L.1974, c.80 (C.34:1B-1 et seq.).

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    Any legally organized for-profit company that is located in the State of New Jersey and whose primary business activity is boat manufacturing shall be eligible ¹to apply¹ for any loan program offered by the New Jersey Economic Development Authority that supports ¹companies entering or expanding with the manufacturing stage of commercial development and that are manufacturing or planning to manufacture¹ "Class I renewable energy" ¹[as that term is defined in section 3 of P.L.1999, c.23 (C.48:3-51)]¹, or energy efficiency ¹[companies entering or expanding within the manufacturing stage of commercial development] systems, products, or technologies¹, provided that the boat manufacturing company utilizes the loan to manufacture Class I renewable energy or energy efficiency systems, products ¹,¹ or ¹[technology as that term is defined in section 3 of P.L.1999, c.23 (C.48:3-51)] technologies¹ within the State.  ¹As used in this section, "Class I renewable energy" has the meaning prescribed for that term under section 3 of P.L.1999, c.23 (C.48:3-51).¹

 

     2.    This act shall take effect immediately, but shall remain inoperative for 30 days following the date of enactment.