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Bill > S2426
NJ S2426
NJ S2426Requires EDA administer small business loan program to provide loans to small businesses owned or controlled by certain veterans.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 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 mandates that the New Jersey Economic Development Authority (EDA), to the greatest extent possible, administer its existing small business loan program to ensure that at least 12 percent of all funds directly loaned out in any given year go to eligible small businesses owned or controlled by veterans, with a preference for those veterans who have a service-connected disability as determined by the U.S. Department of Veterans Affairs or the U.S. Department of Defense. A "veteran" is defined for the purposes of this law as any New Jersey resident who has been honorably discharged or released from active service in any branch of the U.S. Armed Forces.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 01/13/2026)
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/2026/S2426 |
| BillText | https://pub.njleg.gov/Bills/2026/S2500/2426_I1.HTM |
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