Bill

Bill > A5788


NJ A5788

Requires EDA administer small business loan program to provide loans to small businesses owned or controlled by certain veterans.


summary

Introduced
11/07/2019
In Committee
11/07/2019
Crossed Over
Passed
Dead
01/08/2020

Introduced Session

2018-2019 Regular Session

Bill Summary

This bill requires the New Jersey Economic Development Authority (EDA), to the greatest extent practicable, to administer an existing small business loan program in a manner to provide that at least 12 percent of all moneys directly loaned under the program in any calendar year are loaned to eligible small businesses that are owned or controlled by one or more veterans, with priority given to businesses owned or controlled by veterans who have been declared as having a service-connected disability.

AI Summary

This bill requires the New Jersey Economic Development Authority (EDA) to administer an existing small business loan program in a manner that provides at least 12 percent of the total loans to eligible small businesses owned or controlled by veterans, with priority given to businesses owned or controlled by veterans with service-connected disabilities. The bill defines "veteran" as any resident of New Jersey who has been honorably discharged or released from active service in the U.S. Armed Forces.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Introduced, Referred to Assembly Commerce and Economic Development Committee (on 11/07/2019)

bill text


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