Bill Text: NJ A5688 | 2022-2023 | Regular Session | Introduced
Bill Title: Requires EDA to establish program providing grants to certain chambers of commerce; appropriates $1.5 million.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2023-11-20 - Introduced, Referred to Assembly Commerce and Economic Development Committee [A5688 Detail]
Download: New_Jersey-2022-A5688-Introduced.html
Sponsored by:
Assemblyman STERLEY S. STANLEY
District 18 (Middlesex)
SYNOPSIS
Requires EDA to establish program providing grants to certain chambers of commerce; appropriates $1.5 million.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning the provision of grant funding to certain chambers of commerce, supplementing Title 34 of the Revised Statutes, and making an appropriation.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. As used in P.L. , c. (C. ) (pending before the Legislature as this bill):
"Authority" means the New Jersey Economic Development Authority established pursuant to section 4 of P.L.1974, c.80 (C.34:1B-4).
"Business community" means the businesses operating primarily within the geographic region served by a qualified chamber of commerce.
"Fund" means the "New Jersey Business Recovery Fund," established pursuant to section 3 of P.L. , c. (C. ) (pending before the Legislature as this bill).
"Program" means the "New Jersey Business Recovery Grant Program," established pursuant to section 2 of P.L. , c. (C. ) (pending before the Legislature as this bill).
"Programming" means the planning and execution of community or public events, held by a qualified chamber of commerce to further the interests of its business community.
"Qualified chamber of commerce" means an association, operating exclusively on behalf of a business community within this State, which promotes and protects the interests of a business community in a geographic region larger than a singular municipality.
"Regular operations" means the routine activities of a qualified chamber of commerce related to its day-to-day administration or service to its business community.
2. a. The New Jersey Economic Development Authority shall, subject to appropriation, establish and maintain a "New Jersey Business Recovery Grant Program," for the purpose of awarding grants, in an amount not to exceed $25,000, to qualified chambers of commerce for programming and regular operations.
b. In administering the program and the fund established pursuant to section 3 of P.L. , c. (C. ) (pending before the Legislature as this bill), the authority shall establish:
(1) program procedures and timelines for applications, review and approval thereof, and disbursement of grant funding from the fund to a qualified chamber of commerce;
(2) reporting requirements for a qualified chamber of commerce that has received grant funding through the program; and
(3) any other policies deemed necessary by the authority for the administration of the program and the fund.
3. The authority shall establish and maintain a fund, known as the "New Jersey Business Recovery Fund" to provide grant funding to qualified chambers of commerce that participate in the program. The fund shall be credited with such monies as may be appropriated or made available to the authority for the purpose of the fund.
4. a. There is appropriated the sum of $1,500,000 from the General Fund to the New Jersey Economic Development Authority for deposit into the "New Jersey Business Recovery Fund," established pursuant to section 3 of P.L. , c. (C. ) (pending before the Legislature as this bill).
b. In addition to the amounts appropriated pursuant to subsection a. of this section, the Legislature may appropriate such additional funds as may be necessary for the implementation of P.L. , c. (C. ) (pending before the Legislature as this bill). The New Jersey Economic Development Authority may also utilize other such funds as are available for the implementation of P.L. , c. (C. ) (pending before the Legislature as this bill).
5. Notwithstanding any provision of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) or any other law to the contrary, the authority may adopt, immediately upon filing with the Office of Administrative Law and no later than the 90th day after the effective date of this act, such rules and regulations as the authority deems necessary to implement the provisions of this act, which regulations shall be effective for a period not to exceed 12 months. The regulations shall, at a minimum, set forth the requirements for application submissions, the criteria for application selections, and the permitted uses of grant funds. The regulations shall thereafter be amended, adopted, or readopted by the authority in accordance with the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.).
6. This act shall take effect on the 90th day following the date of enactment.
STATEMENT
This bill requires the New Jersey Economic Development Authority (authority) to establish and maintain the "New Jersey Business Recovery Grant Program" (program) to provide grants to qualified chambers of commerce for programming and regular operations.
Following the COVID-19 public health emergency, many businesses based in New Jersey need assistance in their financial recovery. This bill requires the authority to establish the program and establishes the "New Jersey Business Recovery Fund" (fund) to provide grant funding for the program, alongside any other funds which may be appropriated or available to the authority for this purpose. The bill appropriates $1.5 million from the General Fund to the authority for the program.
To qualify for grant funding under the bill, a chamber of commerce is required to serve a business community in this State, in an area larger than a singular municipality. Such a grant may not exceed $25,000.
The authority is required to establish application criteria and procedures; reporting requirements for a qualified chamber of commerce; and any other policy necessary to implement the program and fund.
