Bill > S4485

This bill establishes the New Jersey Innovation Authority, a new public body corporate and politic within the Department of the Treasury designed to drive technological innovation in state government. The authority will be composed of 13 members, including four ex officio members (such as the Chief Technology Officer and State Treasurer) and nine public members appointed by the Governor, with specific representation recommended by legislative leadership. The authority will be led by a Chief Innovation Officer who is appointed initially by the Governor and subsequently by the authority's board, and who will report directly to the Governor. The key responsibilities of the authority include serving as the primary technology innovation authority for the state, advising the executive branch on innovation trends, promoting the responsible use of emerging technologies, developing innovation metrics, supporting technology modernization efforts, and providing grants and financial assistance. The bill allows the authority to enter into contracts, accept private foundation funding, procure insurance, and collaborate with nonprofit entities to achieve its goals. The authority will be subject to specific procurement and contracting rules, with provisions for both competitive bidding and exceptions for certain circumstances. An annual report detailing the authority's activities and financial statement will be required, and the authority can be dissolved by legislative action if it has no outstanding obligations.

Budget and Finance, Business and Industry

https://www.njleg.state.nj.us/bill-search/2024/S4485