S 1944 New Jersey Senate · 2026-2027 Regular Session

Authorizes establishment of regional economic development partnerships.

This bill authorizes counties, municipalities, and local agencies (including economic development entities and public-private groups) to form regional partnerships for joint economic planning. These partnerships can attract businesses, retain existing ones, redevelop areas, and share project costs, while using resources from New Jersey's Economic Development Authority. Partnerships may issue bonds under state law, access matching grants, and provide direct financing to local governments for development projects. The bill does not create new taxes or mandates but establishes a framework for collaborative regional economic strategies.

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 13, 2026 Last action Feb 5, 2026

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What changed between versions

Technical Review Of Prefiled Bill → Introduced · 3 edits · Jan 13, 2026

MINOR

The bill moved from a Senate committee technical review stage back to an introduced status pending technical review by Legislative Counsel. Two co-sponsors (Senators Henry and McKnight) were removed, leaving only Greenstein and Turner. A new STATEMENT section was added summarizing the bill's purpose: authorizing local governmental entities to form regional economic development partnerships for joint economic planning and strategy formulation.

TECHNICAL

Bill status changed from 'As reported by the Senate Community and Urban Affairs Committee with technical review' to 'Introduced Pending Technical Review by Legislative Counsel,' indicating a procedural reset in the legislative process.

Co-sponsors were reduced from four (Greenstein, Turner, Henry, McKnight) to two (Greenstein and Turner).

SCOPE

A new STATEMENT section was added describing that the bill authorizes local governmental entities to enter into regional economic development partnerships for joint regional economic planning and formulating an economic development or redevelopment strategy. Partnerships may include county governments, municipal governments, agencies, public or private economic development organizations, businesses, educational institutions, nonprofit organizations, and other entities located within the region.

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 5, 2026

Committee

Referred to Senate Budget and Appropriations Committee

upper

Jan 13, 2026

Introduced

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee

upper

2 primary · 4 co-sponsors