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Bill > S867
NJ S867
NJ S867Requires certain funds from Main Street Recovery Fund to be used for grants for veteran-owned small businesses.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill requires certain funds from the Main Street Recovery Fund to be used for grants for veteran-owned small businesses. Pursuant to current law, as part of the Main Street Recovery Finance Program, the New Jersey Economic Development Authority provides grants to eligible small businesses from the Main Street Recovery Fund, subject to appropriation or the availability of federal funds. This bill requires seven percent of the grant funds to be made available to eligible small businesses that are owned and controlled by veterans and service-disabled veterans as defined at 15 U.S.C. s.632(q).
AI Summary
This bill requires certain funds from the Main Street Recovery Fund to be used for grants for veteran-owned small businesses. Specifically, the bill mandates that 7% of the grant funds from the Main Street Recovery Finance Program, which provides grants to eligible small businesses, be made available to small businesses owned and controlled by veterans and service-disabled veterans. The bill also outlines the eligibility criteria for small businesses to receive these grants, such as complying with tax requirements, paying a minimum wage, and meeting certain green building standards for capital improvements.
Committee Categories
Military Affairs and Security
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Military and Veterans' Affairs 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/S867 |
| BillText | https://pub.njleg.gov/Bills/2024/S1000/867_I1.HTM |
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