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NJ S3567
Bill
Status
2/19/2026
Primary Sponsor
Linda Greenstein
Click for details
AI Summary
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New Jersey Economic Development Authority (EDA) would establish a low-interest loan program for eligible small businesses to cover 100% of unreimbursed costs for energy audits and resulting energy efficiency improvements
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Eligible small businesses must be independently owned and operated, primarily operate within New Jersey, and meet additional criteria established by the EDA
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Low-interest loans carry a maximum 10-year term with interest rates capped at the greater of 3% or half the prime interest rate as reported in a New York City financial newspaper
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Energy audits must be conducted by contractors licensed by the Board of Public Utilities and involve on-site analysis of all energy-using systems within a building
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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.
Environment and Energy
Last Action
Introduced in the Senate, Referred to Senate Environment and Energy Committee
2/19/2026