Loading chat...
NJ S3891
Bill
Status
11/18/2024
Primary Sponsor
John Burzichelli
Click for details
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