Bill
Bill > A3917
NJ A3917
Requires EDA administer small business loan program to provide loans to small businesses owned or controlled by certain veterans.
summary
Introduced
03/04/2024
03/04/2024
In Committee
03/04/2024
03/04/2024
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, to the greatest extent practicable, administer an existing small business loan program in a manner that provides at least 12 percent of all moneys directly loaned under the program 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 who have been declared as having a service-connected disability. The bill also defines "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 (3)
Last Action
Introduced, Referred to Assembly Commerce, Economic Development and Agriculture Committee (on 03/04/2024)
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/A3917 |
| BillText | https://pub.njleg.gov/Bills/2024/A4000/3917_I1.HTM |
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