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  • NJ A1451
  • Permits small, women owned, or minority owned businesses located in designated regional centers or planning areas to qualify for loans from EDA as if located in designated urban center.
Introduced
(1/27/2016)
In Committee
(6/22/2017)
Crossed Over
(6/22/2017)
PassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill requires that in the case of any undertaking by which the New Jersey Economic Development Authority (EDA) makes direct loans to qualified businesses located in an area designated as being an "urban center" in the "State Development and Redevelopment Plan," the EDA is to include qualified businesses located in areas designated in the plan as being a "regional center" or metropolitan "planning area." Accordingly, qualified businesses in regional centers or metropolitan planning areas would be permitted to receive direct loans under a program by the EDA entitled the "Urban Plus Program." A "qualified business" is defined in the bill as a business that is established by the EDA as a small, woman-owned, or minority-owned New Jersey-based business, manufacturer, redeveloper, or non-profit organization that is unable to obtain funding from conventional sources, notwithstanding the assistance of an EDA guarantee.
2nd Reading in the Assembly, Budget and Appropriations, Commerce and Economic Development
Received in the Senate, Referred to Senate Budget and Appropriations Committee  (on 6/22/2017)
 
 

Date Chamber Action Description
6/22/2017 S Received in the Senate, Referred to Senate Budget and Appropriations Committee
6/22/2017 A Passed by the Assembly (67-8-1)
4/4/2016 A Reported out of Assembly Committee, 2nd Reading
4/4/2016 Assembly Appropriations Hearing (13:00 4/4/2016 Committee Room 11, 4th Floor)
2/22/2016 A Reported and Referred to Assembly Appropriations Committee
2/22/2016 Assembly Commerce and Economic Development Hearing (13:00 2/22/2016 Committee Room 16, Fourth Floor)
1/27/2016 A Introduced, Referred to Assembly Commerce and Economic Development Committee
Date Motion Yea Nay Other
Detail 6/22/2017 Assembly Floor: Third Reading - Final Passage 67 8 5
Detail 4/4/2016 Assembly Appropriations Committee: Reported Favorably 9 0 2
Detail 2/22/2016 Assembly Commerce and Economic Development Committee: Reported Favorably 11 0 1