Bill > A4516

Introduced Session

This bill establishes the position of Minority Depository Institution Coordinator (coordinator) within the New Jersey Economic Development Authority (EDA). The bill requires the EDA board to collaborate with the Chief Diversity Officer in the Division of Purchase and Property in the State Department of the Treasury, to create an application process and then select an individual for the position. The bill requires the coordinator to collaborate with the Chief Diversity Officer and the board to identify and reduce any administrative barriers that limit participation by minority depository institutions in EDA loan and bonding programs. The bill requires the authority to submit a report to the Legislature 120 days after enactment outlining the steps taken by the Minority Depository Institution Coordinator to identify and reduce any administrative barriers to minority depository institution participation in EDA loan and bonding programs.

AI Summary

Committee Categories

Jamel Holley (D)*,  Gordon Johnson (D)*,  Verlina Reynolds-Jackson (D)*,  Valerie Vainieri Huttle (D), 

Reported and Referred to Assembly Appropriations Committee (on 12/14/2020)