Bill > A740

This bill amends a previous law to change a $1,250,000 loan awarded to the Barnegat Bay Decoy and Baymen's Museum, located in Ocean County, into a grant, while also increasing the total grant amount for the museum from $250,000 to $1,500,000. The original law, P.L.1999, c.99, established appropriations from the "1996 Economic Development Site Fund" for various economic development projects, including loans and grants. This bill specifically modifies section 1 of that law by removing the mention of a loan for the museum and adjusting the grant amount. Additionally, it amends section 2 of the law, which details the terms of zero-interest loans, by removing the reference to the loan for the Barnegat Bay Decoy and Baymen's Museum, as it is now being converted to a grant. The "New Jersey Commerce and Economic Growth Commission" is the entity that oversees these funds, and the "1996 Economic Development Site Fund" is a source of funding for economic development in the Delaware River and Bay Region.