Bill Text: NJ A4419 | 2024-2025 | Regular Session | Introduced
Bill Title: Prohibits institution of higher education which boycotts or divests from Israel-supporting or Israeli businesses from receiving State funds.
Spectrum: Partisan Bill (Republican 6-0)
Status: (Introduced) 2024-05-16 - Introduced, Referred to Assembly Higher Education Committee [A4419 Detail]
Download: New_Jersey-2024-A4419-Introduced.html
Sponsored by:
Assemblyman SEAN T. KEAN
District 30 (Monmouth and Ocean)
Assemblywoman VICTORIA A. FLYNN
District 13 (Monmouth)
Co-Sponsored by:
Assemblymen Scharfenberger and McGuckin
SYNOPSIS
Prohibits institution of higher education which boycotts or divests from Israel-supporting or Israeli businesses from receiving State funds.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning aid to institutions of higher education and supplementing Title 18A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. Notwithstanding any provision of law to the contrary, an institution of higher education, including all endowment funds, subdivisions, departments and sections of the institution, which boycotts the goods, products, or businesses of Israel, boycotts entities doing business with Israel, boycotts companies operating in Israel or Israeli-controlled territory, divests from any investment due to a company's support, either through in-kind or for-profit, of Israel, or supports or participates in the Boycott, Divestment, and Sanctions movement shall be prohibited from receiving:
(1) State operating aid;
(2) the proceeds of State-supported revenue bonds that are issued by the New Jersey Educational Facilities Authority;
(3) the proceeds of State general obligation bonds; or
(4) funds awarded to a student enrolled in the institution and distributed through any State student assistance or scholarship program administered by the Higher Education Student Assistance Authority.
b. Nothing in this section shall be construed to prohibit the sale, redemption, divestment, or withdrawal of an investment for a prudent economic reason.
c. As used in this section, "Boycott, Divestment, and Sanctions" means the movement which encourages boycotts, divestments, and sanctions that place economic and political pressure on states, business entities, and other organizations and institutions to influence their behavior against Israel; "boycott" means engaging in actions that are intended to penalize, inflict economic harm on, or otherwise limit commercial relations with another state or nation; "divestment" means to sell, redeem, or withdraw all holdings of a company from the investment portfolio of another company or governmental entity; and "sanctions" means the attempts by national governments, multilateral organizations and other international bodies or their subdivisions to limit or ban trade or other relations with a state or nation.
2. This act shall take effect immediately.
STATEMENT
This bill prohibits an institution of higher education which boycotts or divests from Israel-supporting businesses or Israeli businesses from receiving State funds.
Under the bill, an institution of higher education is prohibited from receiving State operating aid; the proceeds State-supported revenue bonds that are issued by the New Jersey Educational Facilities Authority; the proceeds of State general obligation bonds; or funds awarded to a student enrolled in the institution distributed through any State student assistance or scholarship program administered by the Higher Education Student Assistance Authority if the institution, including all endowment funds, subdivisions, departments, and sections of the institution: boycotts the goods, products, or businesses of Israel; boycotts entities doing business with Israel; boycotts companies operating in Israel or Israeli-controlled territory; divests from any investment due to a company's support, either through in-kind or for-profit, of Israel; or supports or participates in the Boycott, Divestment, and Sanctions movement.
