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Bill > S2089
NJ S2089
NJ S2089Permits small businesses to qualify for loans from EDA for costs of energy audit and making energy efficiency or conservation improvements.
summary
Introduced
03/03/2022
03/03/2022
In Committee
05/15/2023
05/15/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Permits small businesses to qualify for loans from EDA for costs of energy audit and making energy efficiency or conservation improvements.
AI Summary
This bill permits small businesses to qualify for low-interest loans from the New Jersey Economic Development Authority (EDA) to cover the costs of an energy audit and the installation of energy efficiency or conservation equipment at their buildings. The EDA is required to establish and administer this loan program in consultation with the Board of Public Utilities and the Department of Community Affairs. An "eligible small business" is defined as one that is independently owned and operated, primarily operates within New Jersey, and meets any other criteria set by the EDA. The low-interest loans can cover up to 100% of the otherwise unreimbursed costs and have a maximum term of 10 years with an interest rate not exceeding the greater of 3% or half the prime rate.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (1)
Last Action
Referred to Senate Budget and Appropriations Committee (on 05/15/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/S2089 |
| Fiscal Note - Fiscal Estimate 9/26/23; as introduced | https://pub.njleg.gov/Bills/2022/S2500/2089_E1.PDF |
| Analysis - Statement SEN 5/15/23 | https://pub.njleg.gov/Bills/2022/S2500/2089_S1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S2500/2089_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S2500/2089_I1.PDF |
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