Bill
Bill > A4790
summary
Introduced
10/17/2022
10/17/2022
In Committee
12/05/2022
12/05/2022
Crossed Over
11/21/2022
11/21/2022
Passed
12/19/2022
12/19/2022
Dead
Vetoed
02/06/2023
02/06/2023
Introduced Session
2022-2023 Regular Session
Bill Summary
Establishes NJ Non-Profit Loan Guarantee Pilot Program within EDA.
AI Summary
This bill establishes the New Jersey Non-Profit Loan Guarantee Pilot Program within the New Jersey Economic Development Authority (EDA). The program aims to provide financial assistance in the form of loan guarantees to non-profit organizations in the state that meet certain criteria, such as being tax-exempt under section 501(c)(3) of the Internal Revenue Code, having been in existence for at least 10 years, and having received prior financial assistance from the state. The EDA will create a special revolving fund, the "New Jersey Non-Profit Loan Guarantee Fund," to implement the program, which will be used to guarantee loans or lines of credit from participating banks to finance the construction of new physical spaces by qualified non-profit organizations. The bill also requires the EDA to report on the program's effectiveness within 24 months of the bill's effective date and annually thereafter.
Committee Categories
Budget and Finance, Business and Industry, Government Affairs
Sponsors (18)
Craig Coughlin (D)*,
Patrick Diegnan (D)*,
Robert Karabinchak (D)*,
Angela Mcknight (D)*,
Nick Scutari (D)*,
Reginald Atkins (D),
Bob Auth (R),
John Catalano (R),
Herbert Conaway (D),
Aura Dunn (R),
Kimberly Eulner (R),
Roy Freiman (D),
Marilyn Piperno (R),
Nellie Pou (D),
Verlina Reynolds-Jackson (D),
Teresa Ruiz (D),
Shanique Speight (D),
Shirley Turner (D),
Last Action
Absolute Veto, Received in the Assembly (on 02/06/2023)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A4790 |
| Veto (Absolute Veto) | https://pub.njleg.gov/Bills/2022/A5000/4790_V1.PDF |
| Analysis - Statement SBA 12/5/22 1R | https://pub.njleg.gov/Bills/2022/A5000/4790_S2.PDF |
| Fiscal Note - Fiscal Estimate 11/23/22; 1R | https://pub.njleg.gov/Bills/2022/A5000/4790_E1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/A5000/4790_R1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/A5000/4790_R1.PDF |
| Analysis - Statement ACE 10/20/22 | https://pub.njleg.gov/Bills/2022/A5000/4790_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/A5000/4790_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/A5000/4790_I1.PDF |
Loading...