Bill
Bill > A5266
NJ A5266
NJ A5266Establishes Urban Enterprise Zone Microloan Program in EDA to help certain businesses in Urban Enterprise Zones and UEZ-Impacted districts; appropriates $5 million.
summary
Introduced
02/28/2023
02/28/2023
In Committee
02/28/2023
02/28/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Establishes Urban Enterprise Zone Microloan Program in EDA to help certain businesses in Urban Enterprise Zones and UEZ-Impacted districts; appropriates $5 million.
AI Summary
This bill establishes the "Urban Enterprise Zone Microloan Program" in the New Jersey Economic Development Authority (EDA) to provide low-interest loans to qualified businesses in Urban Enterprise Zones and UEZ-Impacted business districts. The program aims to help these businesses with operational or capital expenses to establish or expand their operations. The bill appropriates $5 million from the General Fund to the EDA to create a revolving loan fund for the program, and allows the EDA to adopt temporary regulations to implement the program quickly. The key provisions include eligibility criteria for qualified businesses, terms and conditions for the loans, and requirements for annual reporting by loan recipients.
Committee Categories
Business and Industry
Sponsors (3)
Last Action
Introduced, Referred to Assembly Commerce and Economic Development Committee (on 02/28/2023)
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/A5266 |
| BillText | https://pub.njleg.gov/Bills/2022/A5500/5266_I1.HTM |
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