N.J. Stat. § 52:27H-95: Closure or pending closure of facility in municipality suffering significant economic distress; grant of funds analysis and study

In the event of the closure or pending closure of a facility which would cause or has caused a significant loss of employment to any municipality the commissioner determines to be already suffering significant economic distress, he may, upon the request of the municipality and subject to the availability of funds, grant funds to assist in conducting a cost-benefit analysis of the potential profitability of the establishment of an employee stock ownership plan and a study of economic effects of the closure.

L.1983, c. 471, s. 6, eff. Jan. 12, 1984.