Companies that get financial incentives from the state may soon have to open up about their campaign activities.
On Thursday, the Assembly State Government Committee released a bill
, sponsored by Assemblymen Tim Eustace (D-Paramus) and Daniel R. Benson (D-Hamilton), to require campaign donation disclosures from companies seeking state assistance.
“If a corporation is receiving help from hard-working New Jersey taxpayers, then the taxpayers deserve to know whether that corporation is involving itself in the political process and who it supports,” Eustace said, in a press release.
Specifically, the bill would require any company applying for or receiving economic development subsidies in excess of $25,000 from a state agency to give the agency a list of any political campaign expenditure of more than $10,000.
“This is a reasonable move that does not infringe free speech rights,” Benson said. “Rather, it strengthens the public’s right to know how their money is being spent, and that’s always a good thing.”
No one signed up to testify for or against the bill in Thursday’s committee hearing. The committee voted unanimously to release the bill.