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NJ S1057
Bill
Status
1/9/2024
Primary Sponsor
Linda Greenstein
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AI Summary
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Establishes an Office of Financial Assistance within the New Jersey Economic Development Authority (EDA) to help businesses and non-profit organizations identify and access public financial assistance including grants, loans, loan guarantees, and tax credits
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Requires the EDA board to appoint a director with experience in administering public financial assistance programs to oversee office operations
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Mandates the office provide technical assistance to entities seeking public financial assistance, including help with applications and compliance with funding terms and conditions
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Requires development of a common electronic application platform allowing businesses and non-profits to identify available funding sources, store application documents for reuse, submit multiple applications simultaneously, and track application status
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All State agencies offering public financial assistance must coordinate with the office to ensure their programs are accessible through the common platform and information remains current and accurate
Legislative Description
Establishes Office of Financial Assistance in EDA to help businesses and non-profit organizations access opportunities for public financial assistance; requires office to develop common application platform.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
1/9/2024