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NJ A4805
Bill
Status
3/23/2026
Primary Sponsor
Jerry Walker
Click for details
AI Summary
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New Jersey Economic Development Authority (EDA) would establish a loan program for eligible small businesses to cover 100% of unreimbursed costs for energy audits and energy efficiency improvements.
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Low-interest loans would have terms not exceeding 10 years at interest rates capped at the greater of 3% or half the prime interest rate.
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Eligible small businesses must be independently owned and operated, operate primarily within New Jersey, and meet additional criteria established by the EDA.
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Energy audits must be conducted by contractors licensed by the Board of Public Utilities and include on-site analysis of all energy-using systems to identify efficiency improvements.
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The bill takes effect immediately but remains inoperative for 60 days following enactment.
Legislative Description
Permits small businesses to qualify for loans from EDA for costs of energy audit and making energy efficiency or conservation improvements.
Telecommunications and Utilities
Last Action
Introduced, Referred to Assembly Telecommunications and Utilities Committee
3/23/2026