GREENWALD COMMENTARY ON ENACTMENT OF BILL TO AID START-UP/SMALL BUSINESSES IN NEW JERSEY

New Law Will Help Businesses Spread Losses Out Over Longer Time Period; Lower Their Corporate Tax Burden

(TRENTON) - Assemblyman Louis D. Greenwald today released a multimedia package on the November 24 enactment of legislation (A-3124) he sponsored to allow businesses in New Jersey to write-down net operating losses for up to 20 tax years, as opposed to the previously allowed seven years, putting New Jersey in line with neighboring states.

RUIZ-VITALE MEASURE TO HELP HARD-HIT NEW JERSEYANS DURING RECESSION RECEIVES FINAL LEGISLATIVE APPROVAL

TRENTON – A bill sponsored by Senators Teresa Ruiz and Joseph F. Vitale which would provide financial assistance to individuals and families as part of the “New Jersey Economic Assistance and Recovery Plan” was approved by the Senate today by a vote of 35-0, receiving final legislative approval.

“As the national economic meltdown continues to drive down stock prices and increase the volatility in the banking and loan industries, it can be very easy to lose sight of the human impact of the crisis,” said Senator Ruiz, D-Essex and Union, and a member of the Budget Committee. “However, the bad state of the economy has very real consequences for families struggling to make ends meet. These are people who are at the lowest ends of the economic spectrum and may face foreclosure, extreme poverty and homelessness as the cost of living climbs higher and higher – and they need our help.”

RUIZ MEASURE TO HELP HARD-HIT NEW JERSEYANS DURING RECESSION APPROVED

TRENTON – A bill sponsored by Senate Teresa Ruiz which would provide financial assistance to individuals and families as part of the “New Jersey Economic Assistance and Recovery Plan” was approved by the Senate Budget and Appropriations Committee today by a vote of 9-0, with 4 abstentions.

“During these tough economic times, we’ve read a lot about the plight of corporations, businesses and banks that are on the verge of collapse,” said Senator Ruiz, D-Essex and Union, and a member of the Budget Committee. “While we need to do what we can to help keep these financial institutions and corporations afloat, we need to be concerned, first and foremost, with families and individuals struggling to keep their heads above water and meet the high cost of living in the Garden State. It’s important to ensure corporate viability and protect jobs in this economy, but it’s far more important to ensure that hard-hit New Jerseyans receive the safety net support they need to meet their basic human needs.”

ASSEMBLY DEMOCRATS REACT TO VOTING SESSION FOCUSED ON PROTECTING RESIDENTS FROM ECONOMIC MELTDOWN

Assembly Passes Nearly 30 Bills Designed to Jumpstart State Economy & Help Insulate Residents, Businesses from Global Recession

(TRENTON) - Assembly Democrats today issued the following multimedia package following an Assembly voting session that considered nearly 30 bills to jumpstart the state's economy and help protect residents and businesses from the continuing global economic meltdown.

ASSEMBLY DEMOCRATS REACT TO BUDGET COMMITTEE HEARING AIMED AT HELPING STATE AMID FINANCIAL MELTDOWN

(TRENTON) - Assembly Democrats today issued the following multimedia package as the Assembly Budget committee considered legislation that would expand the state's network of social support programs amid a continuing global economic meltdown.

The panel met as part of a concerted effort by the Assembly to continue its focus on helping New Jerseyans and businesses emerge strong from the global financial crisis.

Assembly committees today considered 19 pieces of legislation to revamp state business taxes and incentives, help struggling homeowners, promote jobs, protect consumers from financial fraud and help low-income residents.

ASSEMBLY DEMOCRATS COMMENTARY ON HELPING NEW JERSEY WORKERS, BUSINESSES AMID FINANCIAL MELTDOWN

(TRENTON) - Assembly Democrats today issued the following multimedia package on Governor Jon S. Corzine's address to a joint session of the Legislature on the global financial crisis.

The Assembly already has advanced 19 bills to help revamp state business taxes and incentives, help struggling homeowners, promote jobs through alternative energy technology, protect consumers from financial fraud and help low-income seniors and the disabled heat their homes.

VAS:  SEPT. STATE UNEMPLOYMENT NUMBERS SHOWCASE NEED FOR CORPORATE TAX REFORMS

(PERTH AMBOY) - Assemblyman Joseph Vas today said newly released unemployment numbers indicate now is a vital time to amend and reform New Jersey's antiquated and restrictive corporation business tax laws.

ASSEMBLY PASSES SEVEN-BILL PACKAGE TO UPDATE, IMPROVE NJ'S CORPORATE BUSINESS LAWS

Measures Would Make State More Business Friendly; Make NJ's Corporate Business Laws Similar to Delaware's

(TRENTON) - The General Assembly today passed a seven-bill package sponsored by Assemblymen Patrick J. Diegnan, Joseph Vas, Matthew W. Milam, Nelson T. Albano and Wayne P. DeAngelo to simplify many of New Jersey's corporate governance statutes and make the state more attractive to businesses.

ASSEMBLY DEMOCRATS REACT TO ECONOMIC WORRIES VOICED AT MONDAY LABOR COMMITTEE HEARING

(TRENTON) - Assembly Democrats today issued the following multimedia package as the Assembly Labor Committee took testimony on the effects of the financial crisis on New Jersey's economy and its citizens.