TRENTON – A set of bills sponsored by Senators Nia H. Gill, the Chairwoman of the Senate Commerce Committee, and Paul A. Sarlo, Chairman of the Senate Labor Committee, which would update laws governing corporations in New Jersey to make the State friendlier to business development was approved by the Commerce Committee today by a vote of 4-0.
“As New Jersey comes to terms with the effects of a national economic crisis the likes of which we haven’t seen since the Great Depression, it is incumbent upon us to retain businesses – and the jobs they bring with them,” said Senator Gill, D-Essex and Passaic. “Our regulatory climate for businesses and corporations is among the strictest in the nation, and particularly at a time when we need to encourage additional business investment in the State, we should revisit some of the corporate regulations currently in place to make for a state friendlier to the business industry.”