Bill > S1206

This bill establishes the "New Jersey Small Business Indoor Air Quality Management Support Program" to provide financial assistance to eligible small businesses, defined as independently owned businesses operating primarily in New Jersey with 100 or fewer full-time employees, for improving their indoor air quality. The New Jersey Economic Development Authority (Authority) will administer this program, offering loans for various improvements like capital purchases, employee training, and new positions, and will consult with the New Jersey Department of Environmental Protection (Department) on air quality standards. To receive a loan, businesses must apply and prove their eligibility, entering into a loan agreement with the Authority, which will set interest rates and terms, aiming for affordability and ensuring loans do not exceed $1 million per state fiscal year. Businesses that receive loans can then apply to the Department for an indoor air quality management certification, which requires a successful inspection by a licensed contractor or licensed site remediation professional (LSRP) using the U.S. Environmental Protection Agency's Indoor Air Quality Management Checklist, with annual inspections needed to maintain certification. The Authority is responsible for adopting necessary rules and regulations to implement the program, which will take effect 90 days after enactment.