New Jersey General Assembly Speaker Joseph Roberts Thursday will file a stimulus bill for the state that would eliminate tax increment financing and instead implement a new redevelopment grant program, and allow higher educational institutions to use tax-exempt debt for cash-flow needs.

The Assembly Appropriations Committee is scheduled Thursday to take up the bill, called the New Jersey Economic Stimulus Act of 2009. Sen. Raymond Lesniak, D-Union, is working on similar legislation in the upper chamber, but has yet to file his plan, according to Matthew Reilly, spokesman for the Senate Democratic majority.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.