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NJ S2422
Bill
Status
Introduced
1/13/2026
Primary Sponsor
Anthony M. Bucco
Click for details
AI Summary
- Reserves 7% of Main Street Recovery Fund grants for small businesses owned and controlled by veterans and service-disabled veterans as defined under federal law (15 U.S.C. s.632(q))
- Amends the existing Main Street Recovery Finance Program administered by the New Jersey Economic Development Authority
- Grant funds may be used by eligible veteran-owned businesses for capital improvements or operating expenses
- Eligible businesses must obtain a tax clearance certificate and pay workers at least $15 per hour or 120% of minimum wage, whichever is higher
- Capital improvements exceeding $50,000 must comply with green building standards and pay prevailing wage rates for construction workers
Legislative Description
Requires certain funds from Main Street Recovery Fund to be used for grants for veteran-owned small businesses.
Military and Veterans' Affairs
Last Action
Introduced in the Senate, Referred to Senate Military and Veterans' Affairs Committee
1/13/2026
Committee Referrals
Military and Veterans' Affairs1/13/2026
Full Bill Text
No bill text available