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Bill > S1935
NJ S1935
NJ S1935Converts loan awarded to Barnegat Bay Decoy and Baymen's Museum from loan to grant.
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 amends an appropriations bill passed by the Legislature in 1999 that awarded $20 million in grants and loans from the "1996 Economic Development Site Fund" established pursuant to section 20 of the "Port of New Jersey Revitalization, Dredging, Environmental Cleanup, Lake Restoration, and Delaware Bay Area Economic Development Bond Act of 1996," P.L.1996, c.70. The funds were awarded to eight municipalities that had been recommended and approved to receive the money by the Economic Development Site Task Force. A grant in the amount of $250,000 and a loan in the amount of $1,250,000 were awarded to the Barnegat Bay Decoy and Baymen's Museum. This bill would convert the loan into a grant.
AI Summary
This bill amends a 1999 law that allocated $20 million from the "1996 Economic Development Site Fund" for economic development projects. Specifically, it changes a $1,250,000 loan previously awarded to the Barnegat Bay Decoy and Baymen's Museum into a grant, effectively making the entire $1,500,000 awarded to the museum a grant instead of a mix of loan and grant. The "1996 Economic Development Site Fund" was established by the "Port of New Jersey Revitalization, Dredging, Environmental Cleanup, Lake Restoration, and Delaware Bay Area Economic Development Bond Act of 1996" to support economic development in the Delaware River and Bay Region. This change means the museum will no longer have to repay this portion of the funds.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Economic Growth 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/S1935 |
| BillText | https://pub.njleg.gov/Bills/2026/S2000/1935_I1.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/S2000/1935_I1.HTM |
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