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Bill > S715
NJ S715
NJ S715Requires EDA to provide grants to certain small businesses affected by State infrastructure and construction projects.
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 establish a "Small Business Interruption Grant Program" (program) to provide grants to small businesses that have suffered economic loss due to an extended closure as a consequence of prolonged infrastructure or construction projects undertaken by the State or another public entity. The bill requires the EDA to: develop an application by which a small business may apply for a grant, award grants to small businesses subject to availability of funds, administer the grant program, and establish and maintain a "Small Business Interruption Grant Program Fund" to provide grants to small businesses that participate in the program. To qualify for grant funding through the program, an applicant is required to: (1) be a small business; (2) have suffered economic loss due to an extended closure as a consequence of a prolonged infrastructure or construction project undertaken by the State or another public entity before or after the bill's effective date; and (3) meet any other eligibility criteria that the EDA deems appropriate. Under the bill, the EDA is to determine the amount of a program grant based on operating expenses incurred by a small business due to an extended closure as a consequence of a prolonged infrastructure or construction project. Finally, the bill requires the entity responsible for the prolonged infrastructure or construction project, for each prolonged infrastructure or construction project, to contribute to the fund, at most, an amount equal to five percent of the estimated total project costs to support small businesses that suffer an economic loss due to an extended closure as a consequence of the prolonged infrastructure or construction project.
AI Summary
This bill establishes a "Small Business Interruption Grant Program" administered by the New Jersey Economic Development Authority (EDA) to provide financial assistance to small businesses that have experienced economic hardship due to extended closures caused by prolonged state or public infrastructure and construction projects. A "small business" is defined as an independently owned and operated business with fewer than 10 employees and annual gross revenue of $1.5 million or less, and an "extended closure" is defined as a business closure lasting at least one month. To qualify for a grant, a business must meet the definition of a small business, demonstrate economic loss from such a closure, and fulfill any other criteria set by the EDA. The grant amount will be based on the operating expenses incurred by the business during the closure. The EDA will create an application process, manage the program, and maintain a dedicated "Small Business Interruption Grant Program Fund" to disburse these grants. Funding for this program will come from legislative appropriations, available EDA funds, and contributions from the entities responsible for the construction projects, with each entity contributing up to five percent of the estimated project costs.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
Introduced in the Senate, Referred to Senate Economic Growth 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/S715 |
| BillText | https://pub.njleg.gov/Bills/2026/S1000/715_I1.HTM |
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