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Assembly Commerce and Economic Development Committee Statement to Assembly, No. 3571 (March 9, 2026)

Summary

Statement of the Assembly Commerce and Economic Development Committee, State of New Jersey, dated March 9, 2026, reporting favorably Assembly Bill No. 3571. The bill authorizes local governmental entities to enter into regional economic development partnerships for joint regional economic planning and an economic development or redevelopment strategy. Partnerships may include any combination of county and municipal governments, agencies or instrumentalities of those governments, and public or private economic development organizations, as well as businesses, educational institutions and nonprofit organizations in the region. The bill was prefiled for introduction in the 2026-2027 session pending technical review.

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“Assembly Commerce and Economic Development Committee Statement to Assembly, No. 3571 (March 9, 2026).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/a3571-ace-statement-3-9-26-7889371471/, SHA-256 7e55e3eea25c8450916e69356104b5a51185d496fa1630cb3925c403c3287d98.

Full text

ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT COMMITTEE

STATEMENT TO

ASSEMBLY,
No. 3571

STATE
OF NEW JERSEY

DATED: MARCH
9, 2026

The Assembly Commerce and Economic Development
Committee reports favorably Assembly Bill No. 3571.

As reported, this bill authorizes local governmental
entities to enter into regional economic development partnerships for the
purpose of engaging in joint regional economic planning and formulating an
economic development or redevelopment strategy. Under the bill, regional
economic development partnerships may include any combination of county
governments, municipal governments, agencies or instrumentalities thereof, and
public or private economic development organizations. A regional economic
development partnership may also include businesses, business organizations,
educational institutions, nonprofit organizations, and other entities located
within the region.

This bill was prefiled for introduction in the
2026-2027 session pending technical review. As reported, the bill includes the
changes required by technical review, which has been performed.

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