Bill > A989

This bill establishes the position of Minority Depository Institution Coordinator within the New Jersey Economic Development Authority (EDA). The Coordinator will collaborate with the EDA's board and the Chief Diversity Officer to identify and reduce administrative barriers that may prevent minority depository institutions (defined as institutions where at least 51% of the voting stock is owned by minority individuals or where a majority of the board is minority and the community served is predominantly minority) from participating in EDA loan programs. The EDA is required to submit a report to the legislature within 120 days outlining the steps taken by the Coordinator to accomplish these goals.

Business and Industry

https://www.njleg.state.nj.us/bill-search/2022/A989