Loading chat...

NJ S3891

Bill

Status

Introduced

11/18/2024

Primary Sponsor

John Burzichelli

Click for details

Origin

Senate

2024-2025 Regular Session

AI Summary

  • Establishes the "Small Business Interruption Grant Program" through the New Jersey Economic Development Authority to provide grants to small businesses that have suffered economic loss due to extended closures (one month or longer) caused by prolonged state or public entity infrastructure and construction projects

  • Defines eligible small businesses as independently owned operations with fewer than 10 employees and annual gross revenue of $1,500,000 or less

  • Creates the "Small Business Interruption Grant Program Fund," funded by contributions from entities responsible for infrastructure projects, with each contributing between zero and five percent of estimated total project costs

  • Grant amounts will be determined based on operating expenses incurred by the small business during the extended closure, with eligibility applying to losses suffered both before and after the bill's effective date

  • Requires the EDA to collaborate with state and local entities to ensure infrastructure project timeframes include specific start dates to help affected businesses determine their eligibility for grant funding

Legislative Description

Requires EDA to provide grants to certain small businesses affected by State infrastructure and construction projects.

Substituted by another Bill

Last Action

Substituted by A4971 (2R)

6/30/2025

Committee Referrals

Economic Growth11/18/2024

Full Bill Text

No bill text available