Sponsored by:
Senator VIN GOPAL
District 11 (Monmouth)
SYNOPSIS
Appropriates $10 million to EDA to assist certain nonprofit arts and cultural organizations negatively impacted by COVID-19 pandemic.
CURRENT VERSION OF TEXT
As introduced.
An Act allocating federal funding to support the operations of nonprofit arts and cultural organizations in this State and making an appropriation.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. There is appropriated from the General Fund to the New Jersey Economic Development Authority the sum of $10,000,000 from a portion of those federal block grant funds allocated to the State from the federal "Coronavirus Relief Fund," established pursuant to the federal "Coronavirus Aid, Relief, and Economic Security Act," Pub.L.116-136. The authority shall use the funds received pursuant to this section to provide financial support, by way of grants, to nonprofit arts and cultural organizations in the State that have experienced a 50 percent or greater reduction in revenue, not including tax-deductible charitable donations, in any monthly period from March 1, 2020 to August 31, 2020, as compared to the same period in 2019.
b. The authority shall adopt rules and regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), to effectuate the purposes of this act.
2. This act shall take effect immediately.
STATEMENT
This bill appropriates $10 million to the New Jersey Economic Development Authority from a portion of those federal block grant funds allocated to the State from the federal "Coronavirus Relief Fund," established pursuant to the federal "Coronavirus Aid, Relief, and Economic Security (CARES) Act," Pub.L.116-136. The EDA is to use the funds to provide financial support, by way of grants, to nonprofit arts and cultural organizations that have experienced a 50 percent or greater reduction in revenue, not including tax-deductible charitable donations, in any monthly period from March 1, 2020 to August 31, 2020, as compared to the same period in 2019. By providing this funding, this bill supports an important part of the State's economy and helps to preserve the State's cultural institutions.