Three pieces of legislation sponsored by Senator Patrick Diegnan aimed at addressing the economic impacts of the Coronavirus were unanimously passed by the State Senate on March 19.
- S2300 Automatically extends the time to file income and corporate tax return. No penalties or interest will be imposed if a taxpayer files a return by the end of the fiscal year, June 30. This legislation joins with federal action which also extends filing of federal tax returns.
- S2290 Allows corporations to hold shareholder meetings by remote communication during a State of Emergency. The corporate board must set forth procedures and shareholders participating by remote communication are entitled to vote at the meeting.
- S2284 Authorizes the NJ Economic Development Authority to provide grants during a state of emergency. These grants will be offered for all aspects of a project from design and acquisition through construction and payroll. These grants will be extended to include small and medium size businesses and not for profit corporations.
Senator Diegnan commented “During this ongoing crisis all levels of government must do what we can to assist our residents and businesses. These three bills will hopefully give some relief. However, this crisis will continue for some time. I am committed to work with Governor Murphy, Senate President Sweeney, Speaker Coughlin, my assembly mates Nancy Pinkin and Rob Karabinchak, our Freeholders, Mayors and council members to do what we can to provide support and relief to our New Jersey families. Please don’t hesitate to contact me at Sendiegnan@njleg.org or (908)757-1677.”