Bill
Bill > AJR72
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 resolution establishes a commission to study the effects of the COVID-19 outbreak on small businesses. COVID-19, a novel coronavirus, has caused a global pandemic leading to an unprecedented and overwhelming public health crisis. In response to the devastating effect COVID-19 has had throughout the country, the President issued a declaration of a National State of Emergency on March 13, 2020 and announced social distancing measures in an effort to halt the spread of COVID-19. The State of New Jersey, the state with the second highest incidence of COVID-19 in the United States, also enacted policies that required residents to remain at home and practice social distancing. Social distancing, while effective at slowing the spread of COVID-19, has caused considerable economic disruption throughout the State and throughout the country, with many businesses forced to close or operate at reduced capacity. These disruptions have caused financial hardships for both small business owners, who have seen a reduction in income, and small business employees, who have faced layoffs, reduced hours, and furloughs. Furthermore, the economic disruption caused by COVID-19 has resulted in a ripple effect that has affected not only small businesses and their employees, which have historically economic generators on their own, but also larger corporations who rely on their small business counterparts act as customers and business counterparts. Small businesses, those firms employing fewer than 100 employees, should be better equipped with information and access to resources to better handle similar future scenarios. A study focused on collecting data to review the number of small businesses that received grants and loans, such as those from the New Jersey Economic Development Authority, along with information pertaining to the number, size, and degree to which the business was affected by the COVID-19 outbreak would greatly aid small businesses across the State.
AI Summary
This resolution establishes the Small Business Assistance Commission, a temporary eleven-member body tasked with studying the economic impacts of COVID-19 on small businesses in New Jersey. The commission will include representatives from the Governor's office, state legislative leadership, and business organizations, and will be charged with investigating the largest challenges faced by small businesses during and after the pandemic. Members will serve without compensation but can be reimbursed for travel expenses, and the New Jersey Business Action Center will provide staff support. The commission will conduct research and hold public hearings to collect data on topics such as government resources, business recovery efforts, innovation support programs, and personal protective equipment (PPE) needs. Specifically defined as firms with fewer than 100 employees, the commission will produce a comprehensive report within 12 months of its first meeting, detailing its findings and recommendations to the Governor and Legislature. The resolution aims to help small businesses better prepare for and respond to future economic disruptions similar to those caused by the COVID-19 pandemic.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Introduced, Referred to Assembly Commerce, Economic Development and Agriculture 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/AJR72 |
| BillText | https://pub.njleg.gov/Bills/2024/AJR/72_I1.HTM |
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