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Assembly Bills to Update, Improve New Jersey’s Corporate Business Rules Now Law

ASSEMBLY BILLS TO UPDATE, IMPROVE
NEW JERSEY’S CORPORATE BUSINESS RULES NOW LAW

Measures Are Among Nearly 40 advanced by Assembly to Further Enhance Efforts to Ensure N.J. Emerges Strong from Economic Crisis

(TRENTON) – Assembly bills to simplify New Jersey’s corporate governance statutes and further enhance efforts to ensure New Jersey emerges strong from the global economic crisis are now law.

The two measures were signed Tuesday by Gov. Jon S. Corzine. They’re sponsored by Assembly members Patrick J. Diegnan Jr., Joseph Vas, Albert Coutinho, Wayne DeAngelo, Bonnie Watson Coleman, Upendra Chivukula and Pamela R. Lampitt.

They’re among seven corporate governance reforms that passed the Assembly in September. The other bills remain pending in the Senate.

“For New Jersey to be competitive as a home for industry in the global marketplace, we need laws that will allow them to operate in real time, using 21st century technology,” said Diegnan (D-Middlesex), who crafted the bill package.

According to the sponsors, the changes in New Jersey’s corporate business laws stem largely from recent conversations with business leaders and a desire to be more cognizant of how corporations work and operate in the instant-access global marketplace. The sponsors also studied policies in neighboring states – particularly Delaware.

Assemblywoman Lampitt discusses her legislation to encourage in-state "green" technology manufacturing

Assemblywoman Lampitt discusses her legislation which would encourage the in-state manufacturing of “green” technologies

Panel OK’s Diegnan/Cryan/Lampitt Bill Creating Standard For School Superintendent Contracts

PANEL OK’S DIEGNAN/CRYAN/LAMPITT BILL CREATING
STANDARD FOR SCHOOL SUPERINTENDENT CONTRACTS

Greatly Varying Perks, Salaries Underscore Need For Statewide Boilerplate Language

(TRENTON) – The Assembly Education Committee today released legislation Assembly members Patrick J. Diegnan, Joseph Cryan and Pamela Lampitt sponsored to implement a statewide contract template for the hiring of all public school superintendents.

“There is absolutely no reason that superintendent contracts should vary so greatly from district-to-district,” said Diegnan (D-Middlesex). “A standard contract template would level the playing field across districts and stop the end-run abuses of tax dollars meant for the classroom. Most importantly, it would insulate the vast majority of dedicated educators from seeing their reputations tarnished by the untoward practices of a few.”

The legislation (A-3185) would require that all school districts in New Jersey use a standard contract template when hiring a new superintendent. The template would be created by state education officials and would address all aspects of employment including salary, health insurance, pension, sick days and vacation. School boards and prospective superintendents seeking to deviate from the standard contract would have to seek approval the Commissioner of the Department of Education.

Senate Panel Clears Schaer/Lampitt/Coutinho Bill To Teach Kids Financial Responsibility

SENATE PANEL CLEARS SCHAER/LAMPITT/COUTINHO BILL TO TEACH KIDS FINANCIAL RESPONSIBILITY

Legislation Would Create Pilot Program To Educate High Schoolers
On Sound Financial Practices

(TRENTON) – Legislation Assembly members Gary S. Schaer, Pamela R. Lampitt, and Albert Coutinho sponsored to initiate a pilot program to educate high school students on personal finance management so they can avoid irresponsible spending habits that lead to excessive personal debt and bankruptcy was released today by the Senate Education Committee.

“Too many young people have taken an ‘out of sight, out of mind’ attitude to their personal finances, setting themselves up for financial hardship before they even get their college degree,” said Schaer (D-Passaic/Bergen/Essex), a professional financial advisor.

“We must do a better job of preparing students to be financially responsible adults.”

A 2005 analysis of credit card debt by student-loan provider Nellie Mae found the average college freshman carried a credit card balance of $1,585. That debt load ballooned to an average of $2,864 for college seniors.

Lampitt/DeAngelo Bill Promoting NJ-Based Solar And Wind Energy Businesses Advances

LAMPITT/DeANGELO BILL PROMOTING NJ-BASED
SOLAR AND WIND ENERGY BUSINESSES ADVANCES

Bill Designed to Promote Clean, Energy;
Is Among Many Pushed by Assembly to Promote Alternative Energy

(TRENTON) – Legislation sponsored by Assemblywoman Pamela R. Lampitt and Assemblyman Wayne DeAngelo to promote New Jersey’s solar and wind energy businesses was released today by an Assembly committee.

The bill (A-3616) would grant a preference to New Jersey businesses in the awarding of state contracts for solar panels, wind turbines and other solar and wind energy devices further supporting “green” businesses and jobs in the state.

It also would support projects that aim to use a majority of parts manufactured or produced in the state for the assembly of a final product.

The lawmakers noted a study by the Center for American Progress and the Political Economy Research Institute at the University of Massachusetts estimated New Jersey could create more than 57,000 jobs through investments in alternative energies.

“Investing in ‘green jobs’ not only will help bolster New Jersey’s reputation as home to cutting-edge technology companies, but will produce good-paying jobs for our world-class workforce during this economic crisis,” said Lampitt (D-Camden). “Creating and promoting new opportunities for investment will pay-off huge for New Jersey and its residents for years to come.”