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NJ S1332
Bill
Status
1/9/2024
Primary Sponsor
Michael Testa
Click for details
AI Summary
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New Jersey Economic Development Authority (EDA) must create a grant program for veterans who become franchisees after the bill's effective date
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Qualified veterans may receive a one-time grant of up to $10,000 to purchase a franchise operating at a location within New Jersey
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Veterans who apply within six months of the bill's effective date and provide proof of being a franchisee or having a valid franchise offer receive priority assistance
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EDA must establish a dedicated fund credited with state appropriations, EDA monies, and public/private donations to support the program
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Grant recipients must report to the EDA within one year of receiving funding, providing proof the grant was used to purchase a franchise in the state
Legislative Description
Requires EDA to establish program providing grants to qualified veterans purchasing franchises.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
1/9/2024