Bill

Bill > A4806


NJ A4806

Provides grants to nonprofit organizations that provide financial literacy classes; appropriates $100,000.


summary

Introduced
09/19/2024
In Committee
09/19/2024
Crossed Over
Passed
Dead

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill requires the Commissioner of Banking and Insurance to establish a program to provide grants to nonprofit organizations that provide financial literacy classes. Many citizens have limited knowledge in the concepts of personal budgeting, investing, and managing debt. This lack of knowledge can hinder their abilities to secure credit for major purchases and save for retirement. The bill addresses the lack of opportunities for education in personal finance by creating a grant program for financial nonprofits to develop and provide personal finance courses, with the goal of broadening the reach of financial education. Individual grants under the program are capped at $5,000. The bill appropriates $100,000 from the General Fund.

AI Summary

This bill requires the Commissioner of Banking and Insurance to establish a program that provides grants of up to $5,000 to nonprofit organizations that offer financial literacy classes. The goal of the program is to broaden the reach of financial education and help citizens learn about personal budgeting, credit management, investing, and other personal finance topics. The bill appropriates $100,000 from the General Fund to fund the grant program.

Committee Categories

Government Affairs

Sponsors (1)

Last Action

Introduced, Referred to Assembly Community Development and Women's Affairs Committee (on 09/19/2024)

bill text


bill summary

Loading...

bill summary

Loading...

bill summary

Loading...