Bill
Bill > S873
NJ S873
Requires EDA administer small business loan program to provide loans to small businesses owned or controlled by certain veterans.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill requires the New Jersey Economic Development Authority (EDA), to the greatest extent practicable, to administer an existing small business loan program in a manner to provide that at least 12 percent of all moneys directly loaned under the program in any calendar year are loaned to eligible small businesses that are owned or controlled by one or more veterans, with priority given to businesses owned or controlled by veterans who have been declared as having a service-connected disability.
AI Summary
This bill requires the New Jersey Economic Development Authority (EDA) to administer an existing small business loan program in a manner that provides at least 12% of all direct loans in any calendar year to eligible small businesses that are owned or controlled by one or more veterans, with priority given to businesses owned or controlled by veterans with a service-connected disability. The bill defines a "veteran" as any resident of New Jersey who has been honorably discharged or released under honorable circumstances from active service in any branch of the U.S. Armed Forces.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 01/09/2024)
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/2024/S873 |
| BillText | https://pub.njleg.gov/Bills/2024/S1000/873_I1.HTM |
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