New Jersey legislature okays $300m Devils tax break just one week after it was introduced

Well, that didn’t take long: Just one week after it was first revealed that the state of New Jersey was considering giving Devils owner Josh Harris $300 million in new tax breaks to pay for arena upgrades, both houses of the state legislature signed off on the money this week (49-22 in the Assembly and 33-4 in the Senate) because re-vi-tal-i-za-tion!

Supporters argued that the tax break will nourish Newark’s renaissance.

“This is not a cash check,” said bill sponsor Sen. Teresa Ruiz (D-Essex). “This is ensuring that Newark stays revitalized and becomes the cornerstone or an economic engine and development, and a source of pride.”

It is undeniably a cash check — the only question is what, if anything, New Jersey residents will get out of the deal. Assembly sponsor Eliana Pintor Marin, who represents the district with the Devils arena in it, said that if the Devils “were to pack up and leave, the economic detriment it’d cause the City of Newark — my home base in the Ironbound — would be substantial.” That’s very debatable, but more to the point, Harris hadn’t threatened to move the Devils anywhere, and has a lease in Newark through 2038, and would be hard-pressed to find another metro area the size of New York City’s if he did want to move. But, you know, details!

Moreover, from the looks of the bill language, Harris isn’t required to sign a lease extension or do anything else in exchange for the tax subsidy, so it’s not only a cash check, it’s one with no strings attached. Even if unbeloved lame-duck governor Phil Murphy signs the bill before leaving office on Tuesday, state senate appropriations committee chair Paul Sarlo said Harris will still have to negotiate final details with incoming governor Mikie Sherrill, the state Economic Development Authority, and the city of Newark, so it’s still possible that the state could put some conditions on its $300 million, but probably best not to hold your breath.