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A3571 TR
ASSEMBLY, No. 3571
STATE OF NEW JERSEY
222nd LEGISLATURE
�
PRE-FILED FOR INTRODUCTION IN THE 2026 SESSION
Sponsored by:
Assemblyman LOUIS D. GREENWALD
District 6 (Burlington and Camden)
Assemblywoman HEATHER SIMMONS
District 3 (Cumberland, Gloucester and Salem)
Assemblyman CODY D. MILLER
District 4 (Atlantic, Camden and Gloucester)
Co-Sponsored by:
Assemblyman Karabinchak, Assemblywoman Haider, Assemblymen
Schaer and Freiman
SYNOPSIS
���� Authorizes establishment of regional economic
development partnerships.
CURRENT VERSION OF TEXT
���� As reported by the Assembly Commerce and Economic
Development Committee with technical review.
��
An Act
authorizing establishment of regional economic
development partnerships and supplementing Title 34 of the Revised Statutes.
����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:
���� 1.��� a.� A county government,
municipal government, or any agency or instrumentality thereof, including a
county improvement authority, municipal economic development entity, and public
or private economic development organization, or any combination thereof, may
join together and enter into an agreement to establish a regional economic
development partnership for the purpose of engaging in joint regional economic
planning and formulating an economic development or redevelopment strategy
which may include, but not be limited to, assisting existing businesses,
attracting new businesses, providing incentives to retain existing businesses
in the region, redeveloping existing areas or facilities, and sharing costs of
a project or projects.
���� b.��� A regional economic
development partnership may also include businesses, business organizations,
educational institutions, nonprofit organizations, and other entities located
within the region.� Regional economic development partnerships formed pursuant to
this section may be registered with the New Jersey Economic Development
Authority and may cooperate with, and utilize the economic development
resources of, the authority.� If a constituent member of a partnership is a
public entity within the jurisdiction of the Department of Community Affairs,
the partnership agreement shall be submitted to the department for approval
before it is certified by the authority.� Every partnership agreement shall
contain provisions for the creation of a board representing the members of the
partnership to oversee the partnership's affairs.
���� c.���� Regional economic
development partnerships may be eligible for loans or any available matching
grants in order to carry out marketing, advertising, and promotional programs
to further their activities, promote business growth, and assist existing
businesses within the region.
���� d.��� Notwithstanding the
foregoing, counties and municipalities, jointly or severally, may enter into an
agreement other than a formal regional economic development partnership
arrangement for the purpose of engaging in joint economic planning,
implementing an economic development strategy, or any other economic
development or redevelopment project or projects, including the sharing of the
cost of the project or projects pursuant to a resolution or ordinance, as
appropriate, adopted by the participating governing bodies.� Local units that
have negotiated an agreement pursuant to this subsection shall submit the
proposed agreement to the Local Finance Board for approval.
���� 2.��� This act shall take
effect on the first day of the seventh month next following the date of
enactment, but the New Jersey Economic Development Authority and the Local
Finance Board may take such anticipatory administrative action in advance
thereof as shall be necessary for the implementation of this act.