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Holtec International Agrees to Pay $5 Million Penalty

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the staff of the Ridgewoodblog

Trenton NJ, Attorney General Matthew J. Platkin and the Office of Public Integrity and Accountability (OPIA) today announced that Holtec International, a Camden-based energy technology company involved in the decommissioning of nuclear power sites, agreed to pay $5 million in penalties and retain an independent reviewer approved by the State to monitor future applications for State benefits, and in exchange the State agrees to defer criminal prosecution following a lengthy criminal investigation into applications by Holtec and a related company, Singh Real Estate Enterprises (SRE), to the New Jersey Economic Development Authority (EDA) for $1 million worth of tax credits from the Angel Investor Tax Credit Program.

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Assemblyman Christopher DePhillips introduces bill to boost state’s angel investor tax credit program

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the staff of the Ridgewood blog

Trenton NJ, in 2019, Assemblyman Christopher DePhillips sponsored legislation that successfully doubled the angel investor tax credit. Noting increased competition from neighboring states and a lagging economy, he introduced a bill Tuesday to increase the tax credit again.

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