Requires business that violates State environmental laws to forfeit economic development subsidies under certain circumstances.

This bill requires businesses receiving New Jersey economic development subsidies (valued at over $25,000) to forfeit part of their subsidy or pay costs if they violate state environmental laws. Specifically, if the Environmental Protection Commissioner determines a business caused an environmental incident, the business must either forfeit 20% of its annual subsidies or pay the full costs of remediation - including housing relocation, air filtration systems, and mental health services for affected residents. Payments collected will fund the new Environmental Incident Recovery Fund, which reimburses impacted residents for qualifying costs. The law applies to all future subsidy agreements and mandates businesses to comply within 30 days or risk losing all future subsidies.