Businesses that lose their places of business through eminent domain proceedings could be more generously compensated for that loss, under a broad eminent domain reform bill that was discussed March 15 in the Senate Community and Urban Affairs Committee. A proposed committee substitute for S-1975 (Rice) would also improve the notification requirements used in condemnation proceedings. The measure’s provisions are somewhat similar to those found in A-3257 (Burzichelli, Gordon), which was approved by the Assembly last June and is supported by NJBIA.

NJBIA was successful in securing several provisions that will help businesses. First, the Senate bill would provide for a location premium to compensate businesses if their real estate is taken. The premium would compensate for losses that go beyond the value of the property itself, such as good pedestrian, mass transit or vehicular traffic. This is particularly important for businesses that rent or lease their place of business. Under current law, only property owners can receive compensation, not the tenants.

The bill would also greatly increase the amount of relocation assistance businesses could receive. Over three years, relocation assistance limits would increase from a minimum of $2,500 and a maximum of $10,000 to an $11,250 minimum and a $45,000 maximum. In succeeding years, assistance limits would increase according to the consumer price index (CPI). For more information, contact David Brogan at ext. 236.

Bill Expanding Business Closing Notification Requirements Passes Senate—The Senate on March 15 passed A-1044 (Van Drew, Johnson)/S-472 (Sweeney, Doria), which would impose greater notification requirements and penalties on companies that are closing or undergoing layoffs. The measure would require employers with 100 or more employees to provide 90 days public notice before closing a business or laying off 50 or more employees within a 30-day period. If employers miss the notice requirements by even a single day, the bill would require them to pay employees the equivalent of one week’s wages for each year of employment. The measure now goes to the Assembly.

NJBIA opposes this bill because it far exceeds other state and federal notification laws. Federal law requires only 60 days notice and does not penalize businesses with huge severance payments that could cost an employer hundreds of thousands of dollars. Imposing this burden on a business that is already struggling to remain solvent would only aggravate its difficulties by chasing away suppliers and customers, costing New Jersey more jobs in the long run. For more information, contact John Rogers at ext. 209.

NJBIA Opposes Energy Code Changes—Legislation that could create great difficulties for the building industry by allowing frequent changes to the energy sub-code section of the State Uniform Construction Code (UCC) was released March 12 by the Assembly Environment Committee. A-3595 (McKeon, Chivukula) would allow the NJ Department of Community Affairs (DCA) to change the energy sub-code at any time, instead of only once every three years, as permitted by current law, and allow DCA to exceed national code standards that set a uniform construction code across the states.

NJBIA is opposed to this bill. Currently, proposed sub-code changes are carefully reviewed by the code advisory board to make sure they reflect broader industry standards. Changes are closely based on the International Code Council codes, creating a stable, consistent standard for construction across all states. Frequent changes to the code could create a constantly changing set of rules that would be difficult for builders to keep up with. For more information, contact Sara Bluhm at ext. 204.

NJBIA Backs State Budget at Senate Hearing—NJBIA First Vice President Art Maurice praised Governor Corzine’s proposed State budget and thanked legislators for supporting the business community in the budget they adopted last year. “Because of your efforts, New Jersey State government has taken significant steps to improve our difficult business climate,” Maurice said during a March 14 Senate Budget and Appropriations Committee hearing.

Corzine’s proposed budget would end the double taxation of 107,000 S corporations, saving them about $35 million a year. The budget also continues probusiness tax changes enacted by legislators and the Governor last year. This includes the elimination of the alternative minimum assessment, for a savings of $160 million, and the full restoration of deductions for net operating losses, for a tax savings of $35 million. In total, the budget would offer businesses $230 million in savings, and there are no new taxes or fees proposed.

Maurice said he shared the Governor’s concern about the structural deficits that will make future budget years more difficult, and said more reductions in State spending are necessary. For more information, contact Art Maurice at ext. 247.

Meet the Legislative Leaders: South Jersey, March 28—At this briefing breakfast, to be held at the Mansion on Main Street in Voorhees, you will hear from invited legislators Louis Greenwald, Assembly Budget Committee Chairman; Stephen Sweeney, Senate Labor Committee Chairman; Martha Bark, Senate Republican Conference Leader; and Francis Bodine, Assembly Republican Deputy Leader.

The event will begin at 7:30 a.m. with a full breakfast and a brief overview of NJBIA's legislative agenda. Our panel of legislative leaders will offer their thoughts and answer your questions about health insurance costs, state and local taxes, environmental fees and permits, energy costs and other issues impacting your business. Legislators from throughout the region will also be invited to attend, making this a tremendous networking event. The cost is $69 per person for NJBIA members, $105 for nonmembers. For more information, contact Katie Wittkamp at 609-393-7707, ext. 239, or register online. To become a sponsor contact Sherry Esteves at ext. 219.

Meet the Governor's Chief Advisors, April 11—NJBIA will continue its Meet the Decision Makers breakfast series on Wednesday, April 11 at the Forsgate Country Club in Monroe Township (just off Exit 8A of the NJ Turnpike) with top representatives of the Governor's office including Chief of Staff Thomas Shea, Chief Counsel Ken Zimmerman and Policy Counsel Heather Howard. Register for this event now.

You can also register for our Tuesday, May 1, breakfast with State Treasurer Bradley Abelow, which will take place at the Holiday Inn East Windsor (just off Exit 8 of the NJ Turnpike).

The breakfast will be held from 7:30 a.m. to 10:00 a.m. The cost to attend is $69 per person for NJBIA members and $105 for nonmembers. For more information, or to become a sponsor, contact Sherry Esteves at 609-393-7707, ext. 219.

New Good Neighbor Awards Advertising and Sponsorship Opportunities—The New Good Neighbor Awards annually recognize the best and most exciting commercial and industrial development projects in the State of New Jersey.

Capitalize on the high visibility of this prestigious award by taking advantage of the Advertising and Sponsorship opportunities we are offering for 2007.

• Co-sponsor the June 1, 2007 luncheon honoring the winners.

• Advertise in the June 2007 issue of New Jersey Business Magazine.

• Maximize your visibility and save money by signing up for both.

For more information on sponsorship contact Sherry Esteves at 609-393-7707, ext. 219. For more information on advertising opportunities, contact Vincent Schweikert at 973-882-5004, ext. 110.

Raise Your Visibility. Become an Event Sponsor—Golf & Tennis Day. NJBIA's Meet the Decision Makers series. First-rate events like these offer your company an excellent opportunity to reach their target audiences and heighten their visibility as an event sponsor. Learn more about becoming an NJBIA sponsor online or contact Sherry Esteves at 609-393-7707, ext. 219.