ASSEMBLY-APPROVED ECONOMIC RELIEF ADVANCES IN SENATE

ASSEMBLY-APPROVED ECONOMIC RELIEF ADVANCES IN SENATE

Measures Aim to Help Residents and Businesses Weather Economic Downturn

(TRENTON) –Assembly Democrats lauded the Senate today for giving final legislative approval to measures aimed at helping homeowners and businesses emerge stronger from the global economic crisis.

The Assembly passed the measures in October and November voting sessions and has been weighing economic stimulus and relief measures since September.

The Senate today gave final legislative approval to a bill that (A-3294) would create the “Invest in New Jersey Business Grant Program” program to provide $3,000 grants to small and mid-size businesses for each new job created. The measure is sponsored by Assembly members Nelson Albano (D-Cumberland), Matt Milam (D-Cumberland), Joseph Vas (D-Middlesex), Louis Greenwald (D-Camden) and Linda Greenstein (D-Middlesex/Mercer).

“Employees and employers both need confidence that much-needed jobs will be able to remain in New Jersey,” said Albano. “With this measure in place, we can ensure they will.”

“Businesses need this comprehensive program to both spur job development and help retain their current employees here in the Garden State,” said Milam.

The Senate also gave final legislative approval to legislation (A-3374) sponsored by Assemblywoman Connie Wagner (D-Bergen) and Assemblyman John Burzichelli (D-Gloucester) to provide $22.5 million for utility-bill assistance program, food banks and legal services to assist homeowners dealing with foreclosure.

“Families who never before would have thought they would need to rely on a helping hand to pay their heating bills or put food on their tables now are facing that harsh reality,” said Wagner. “We need to ensure programs that now are servicing record numbers of residents can meet the growing demand.”

Another measure (A-3459) given final legislative approval by the Senate today would appropriate $12.5 million for a foreclosure mediation program and to enhance mortgage counseling services and allocate $51 million in federal money the state will be receiving for housing assistance. It ‘s sponsored by Majority Leader Bonnie Watson Coleman (D-Mercer) and Assemblymen Jerry Green (D-Union), Ralph Caputo (D-Essex), and Burzichelli.

“Nothing in the current crisis is as frightening as the specter of thousands of New Jerseyans losing their homes to foreclosure in the midst of winter,” said Watson Coleman. “We need to provide this lifeline to the countless families who might otherwise find themselves homeless at the worst possible time.”

Also given final legislative approval by the Senate today was (A-3460), which would enhance the Senior Freeze property tax relief program, increasing household income limits from $55,000 level to $80,000 during the next three years. It is sponsored by Assembly members Paul Moriarty (D-Gloucester), Joan Voss (D-Bergen), Greenstein, Sandi Love (D-Camden/Gloucester) and Nellie Pou (D-Passaic).

“Making it easier for senior citizens and disabled homeowners to take advantage of this property tax relief will help ensure the global economic crisis doesn’t force residents on fixed incomes out of their homes,” Moriarty said.

“Senior citizens who have given their lives and energy to New Jersey deserve all the help we can give them,” Voss said. “ Many already have a tough enough time staying in their homes, and this global crisis isn’t making things any easier.”

On the Net: www.assemblydems.com