Authorizes imposition of penalties and forfeiture of economic development subsidies for certain businesses that violate State environmental laws.*

This bill requires businesses receiving New Jersey economic development subsidies (over $25,000) to forfeit part of their subsidy or pay the full cost of environmental remediation if they violate state environmental laws. Specifically, businesses found responsible for an environmental incident must either forfeit 20% of their subsidy value for that tax year or pay the total costs to address the incident - including remediation, relocation, air filtration, and mental health services for affected residents. Proceeds from these payments fund the new Environmental Incident Recovery Fund, which reimburses impacted residents for related costs. The fund applies only to incidents where businesses received subsidies after the bill's effective date.