NJ S3827

Creates the "New Jersey Emerging Business Advertising Grant Program" administered by the New Jersey Economic Development Authority to fund advertising and marketing expenses for qualified businesses

Defines eligible "New Jersey emerging business" as a company with fewer than 225 employees, where at least 75% of employees fill positions in New Jersey, and the company does business, owns property, or maintains an office in the state

Requires grant recipients to submit audited financial statements annually to verify proper use of funds and continued eligibility until all grant money is expended

Grants used improperly will be converted to loans by the authority

The authority has discretion to set grant amounts, approve applications on a rolling basis subject to available funds, and establish additional eligibility criteria through rulemaking