New Jersey attorney general probes tax incentive programs after audit

Posted: Updated:
TRENTON -

(AP) - New Jersey's top law enforcement official says he plans to investigate after a state audit raised questions about how billions in tax incentives were awarded.

Attorney General Gurbir Grewal said in a statement Monday there were still many questions surrounding the Economic Development Authority's incentive programs, but that it was time to "ask some tough questions."

The statement comes after the state comptroller issued an audit last week showing the authority failed to determine if companies that got tax credits met the benchmarks required under law.

RELATED: Audit faults NJ agency for lack of tax credit oversight 

The audit sampled about 10 percent of the 401 companies that were approved for $11 billion in credits going back to 2005.

Grewal says he will use "the full powers" of his office to recover any funds that might have been wrongly paid out.

(Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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