New Jersey: EnCap law setting up oversight of public-private projects

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A bill requiring new oversight for public-private projects funded with taxpayer dollars was signed into law today by Gov. Jon Corzine, according to a report in The Record.

Proposed after the failure of the Encap Golf project, the new law requires developers of larger projects to put in their own money before receiving financial support by the state, according to the report. Critics charge the legislation has been heavily amended, lacks protections proposed in earlier versions of the bill, and is full of loopholes that will exempt many projects, the report said, but supporters say the bill is a major step forward in protecting taxpayers.



A May 2008 photo of the failed development site of the proposed EnCap Golf project. Tim Farrell/The Star-Ledger