Bill Text: NJ A5168 | 2024-2025 | Regular Session | Introduced
Bill Title: Establishes 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.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced) 2025-01-14 - Introduced, Referred to Assembly Science, Innovation and Technology Committee [A5168 Detail]
Download: New_Jersey-2024-A5168-Introduced.html
Sponsored by:
Assemblyman REGINALD W. ATKINS
District 20 (Union)
Assemblyman JULIO MARENCO
District 33 (Hudson)
SYNOPSIS
Establishes 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.
CURRENT VERSION OF TEXT
As introduced.
An Act establishing an Artificial Intelligence Initiative Funding Task Force.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. As used in this act:
"Artificial intelligence" means: (1) any artificial system that performs tasks under varying and unpredictable circumstances without significant human oversight or that can learn from experience and improve performance when exposed to data sets; (2) an artificial system developed in computer software, physical hardware, or other context that solves tasks requiring human-like perception, cognition, planning, learning, communication, or physical action; (3) an artificial system designed to think or act like a human, including cognitive architectures and neural networks; (4) a set of techniques, including machine learning, that is designed to approximate a cognitive task; or (5) an artificial system designed to act rationally, including an intelligent software agent or embodied robot that achieves goals using perception, planning, reasoning, learning, communication, decision making, and acting.
"State agency" means any of the principal departments in the Executive Branch of the State Government, and any division, board, bureau, office, commission or other instrumentality within or created by such department; and any independent State authority, commission, instrumentality, public benefit corporation, or agency.
2. a. There is established in, but not of, the Department of the Treasury, the Artificial Intelligence Initiative Funding Task Force. b. The task force shall research and issue a report concerning potential sources of public and private funding for artificial intelligence initiatives in the State. The task force's report shall include, but not be limited to:
(1) a description of all current public and private sources of funding that may support artificial intelligence initiatives in the State;
(2) 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;
(3) recommendations regarding how the State may leverage public-private partnerships to support artificial intelligence initiatives;
(4) recommendations regarding how the State may leverage collaborations with public and private institutions of higher education to finance or encourage artificial intelligence initiatives; and
(5) recommendations regarding how the State can align funding for its artificial intelligence initiatives and programs with its workforce needs and economic growth goals.
c. The task force shall issue a final report of its findings and recommendations no later than 12 months following its organization. The final report shall be submitted to the Governor, and pursuant to section 2 of 1991, c.164 (C.52:14-19.1), the Legislature. The task force's final report shall identify legislative bills that the task force recommends for adoption by the Legislature in addition to such other recommendations as the task force deems necessary to achieve the purposes of this act. The task force shall make its final report available through a link prominently displayed on the website of the Department of the Treasury. The task force shall expire 30 days following the issuance of its report.
3. a. The task force shall consist of 11 voting members as follows: (1) the State Treasurer, or the State Treasurer's designee;
(2) the Commissioner of Labor and Workforce Development, or commissioner's designee;
(3) the Chief Executive Officer of the Economic Development Authority, or their designee;
(4) the Secretary of Higher Education, or secretary's designee;
(5) the Executive Director of the New Jersey Commission on Science, Innovation and Technology; or their designee;
(6) two public members appointed by the Governor;
(7) one public member appointed by the President of the Senate; (8) one public member appointed by the Senate Minority Leader; (9) one public member appointed by the Speaker of the General Assembly; and
(10) one public member appointed by the Assembly Minority Leader.
b. In appointing public members, the appointing authority shall select academic, business, and other professionals who have knowledge, expertise, and practical experience in artificial intelligence, economic development, economic analysis, governmental finance, higher education, tax policy, or workforce development.
c. Public members of the task force shall serve until the task force issues its final report to the Governor and the Legislature. Any vacancy in the membership of the task force shall be filled in the same manner in which the original appointment was made. Any member of the task force may be removed for cause by the appointing authority. Members of the task force shall serve without compensation but shall be reimbursed for necessary expenses incurred in the performance of their duties, within the limits of funds appropriated or otherwise made available to the task force for its purposes.
d. The task force shall organize as soon as practicable after the appointment of a majority of its members, and shall select a chairperson and vice-chairperson from among its members. The members of the task force shall select a secretary, who need not be a member of the task force. A majority of the membership of the task force shall constitute a quorum for the transaction of task force business. The task force may meet at the call of its chairperson at the times and in the places it deems appropriate and necessary to fulfill its duties. The task force may consult with, and receive testimony from independent experts, other qualified individuals, and members of the general public.
e. The Department of the Treasury shall provide professional and clerical staff to the task force as may be necessary for the task force's purposes. The task force shall also be entitled to call to its assistance and avail itself of the services or employees of any State agency or county or municipal department, board, bureau, commission, or agency or authority as it may require and as may be available for its purposes
f. The task force may make use of existing studies, surveys, data, and other materials in the possession of any State agency and such materials in the possession of any county, municipality, or political subdivision of the State, other than the records and files of the Director of the Division of Taxation that are confidential under R.S.54:50-8.
4. This act shall take effect immediately.
STATEMENT
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.
