GOP lawmaker proposes four-bill package to curb tax break 'abuse'.

Byline: Daniel J. Munoz

A new series of bills would increase scrutiny of the state'sEconomic Development Authority, tasked with overseeing New Jersey's controversial and now-expired corporate tax breaks, following both media and government reports that the agency lacked oversight and that the incentive program was crafted in a way to benefit politically connected figures.

Assemblyman Ryan Peters, R-8th District, unveiled a four-bill package on Tuesday to ramp up oversight of the agency.

His legislation does not address the central matter of extending the multibillion-dollar Grow New Jersey corporate tax breaks, or hashing out their potential replacement.

"It's absolutely critical we extend these programs, but if the system behind them is broken, it's just as dangerous continuing with them as is," Peters said in a statement.

The legislation calls for the creation of the Office of Economic Development Inspector General within the EDA. Appointed by the governor, they would wield the power to monitor and investigate the workings of the organizations and report on its activities in an effort to root out "fraud, waste and abuse" of the state's tax incentive programs.

It's absolutely critical we extend these programs, but if the system behind them is broken, it's just as dangerous continuing with them as is.

- Assemblyman Ryan Peters

Another proposal is the creation of an EDA Economic Development Auditor, who would work under the inspector general and scrutinize any businesses that have won or already possess economic incentives from the EDA. The auditor would monitor compliance with the tax incentive program, such as whether the company created or retained the agreed-upon amount of jobs for the state.

In addition, the auditor would report any company that did not comply with the incentive agreements, while the inspector general would bring those findings to the agency's board of directors to decide on actions such as clawing back tax breaks or withholding payments.

A task force Gov. Phil Murphy convened in January has presented allegations and evidence that businesses with close ties to South Jersey political powerbroker George Norcross presented bogus plans about where out of state they would move despite no such actual plans if they did not win the tax breaks, with the advice of law firm Parker McCay, where George's brother Philip is a partner.

"We've witnessed the unearthing of hidden influence and rampant abuse within the [EDA] and how it...