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Bill > A2620
NJ A2620
NJ A2620Establishes task force to research and report on potential sources of funding for artificial intelligence initiatives and appropriate tax incentives to support businesses impacted by expansion of use of artificial intelligence.
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 establishes an 11-member Artificial Intelligence Initiative Funding Task Force, in but not of, the Department of the Treasury. The task force is charged with researching and reporting on potential sources of public and private funding to support artificial intelligence initiatives in the State. The membership of the task force would include the State Treasurer, Commissioner of Labor and Workforce Development, Chief Executive Officer of the Economic Development Authority, Secretary of Higher Education, Executive Director of the New Jersey Commission on Science, Innovation, and Technology, and 6 public members, including two appointed by the Governor and four appointed by the Legislative leadership. The bill requires the task force to issue a report concerning potential sources of public and private funding to support artificial intelligence initiatives in the State. At a minimum the report would be required to include: a description of all current sources of public and private funding that may support artificial intelligence initiatives in New Jersey; recommendations regarding appropriate tax incentives to support the development and growth of business sectors and industries in the State most impacted by an expansion of the use of artificial intelligence; recommendations regarding how the State may leverage public-private partnerships and collaborations with public and private institutions of higher education to finance artificial intelligence initiatives; and recommendations regarding how the State can align funding for its artificial intelligence initiatives and programs with its workforce needs and economic growth goals. The task force report would be due no later than 12 months following its organization. The bill directs the report to be issued to the Governor and the Legislature and to be available to the public through the Department of the Treasury's Internet website. The bill provides that the task force would expire 30 days following the issuance of its report.
AI Summary
This bill establishes an 11-member Artificial Intelligence Initiative Funding Task Force, which will operate within the Department of the Treasury but not as part of its core structure. The task force's primary responsibility is to research and report on potential public and private funding sources for artificial intelligence (AI) initiatives within the state. AI is defined broadly to encompass systems that can learn, adapt, and perform tasks with minimal human oversight, mimicking human-like perception, cognition, and action. The task force will include key state officials like the State Treasurer, Commissioner of Labor and Workforce Development, CEO of the Economic Development Authority, Secretary of Higher Education, and the Executive Director of the New Jersey Commission on Science, Innovation, and Technology, along with six public members appointed by the Governor and legislative leadership. Within 12 months of its formation, the task force must submit a report detailing current funding sources, recommending tax incentives for businesses affected by AI expansion, suggesting ways to use public-private partnerships and higher education collaborations for AI funding, and outlining how state AI funding can align with workforce needs and economic growth goals. The report will be sent to the Governor and Legislature and made public, and the task force will dissolve 30 days after its report is issued.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced, Referred to Assembly Science, Innovation and Technology 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/A2620 |
| BillText | https://pub.njleg.gov/Bills/2026/A3000/2620_I1.HTM |
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