Bill Text: NJ S3694 | 2022-2023 | Regular Session | Introduced
Bill Title: Requires EDA to create needs-matching website for eligible entities.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2023-02-28 - Introduced in the Senate, Referred to Senate Economic Growth Committee [S3694 Detail]
Download: New_Jersey-2022-S3694-Introduced.html
Sponsored by:
Senator LINDA R. GREENSTEIN
District 14 (Mercer and Middlesex)
Senator ANDREW ZWICKER
District 16 (Hunterdon, Mercer, Middlesex and Somerset)
SYNOPSIS
Requires EDA to create needs-matching website for eligible entities.
CURRENT VERSION OF TEXT
As introduced.
An Act requiring the New Jersey Economic Development Authority to create a needs-matching website and supplementing Title 34 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. The New Jersey Economic Development Authority shall create, implement, maintain, and make available to eligible entities a website designed to enable an eligible entity to advertise needs related to physical locations, equipment, labor, and other supplies related to innovation projects, for the purpose of matching those needs with a supplier whose assets or services can fulfill those needs. The authority shall collaborate with the entities listed in subsection b. of this section to develop the website.
b. The website established pursuant to subsection a. of this section shall be designed to facilitate the matching of needs for eligible entities, including, but not limited to, businesses, real estate professionals, medical institutions, research facilities, non-profit organizations, professional associations, higher education institutions, and investors.
c. The website established pursuant to subsection a. of this section shall be designed such that an eligible entity may create, post, and search advertisements for needed supplies and shall facilitate an eligible entity's communication with a supplier to arrange the purchase, rental, or other like needs-matching agreements. An eligible entity shall be permitted to advertise needs related to physical locations, equipment, labor, and other appropriate assets or services which may pertain to the needs of an eligible entity.
d. As used in P.L. , c. (C. ) (pending before the Legislature as this bill), "eligible entity" means an entity in this State which does business in at least one of the following industries: advanced computing, advanced materials, biotechnology, electronic device technology, information technology, life sciences, medical device technology, mobile communications technology, or renewable energy technology.
2. The authority shall make available and maintain, as part of the website established pursuant to section 1 of P.L. , c. (C. ) (pending before the Legislature as this bill), a list of public and private funding sources, including State and federal grant programs, and investment opportunities, which may be appropriate for an eligible entity.
3. The authority shall
adopt, pursuant to the "Administrative Procedure Act," P.L. 1968, c.410
(C.52:14B-1 et seq.), rules and
regulations as may be necessary to effectuate the purposes of
P.L. , c. (C. )
(pending before the Legislature as this bill). In developing procedures in
connection with the design, implementation, and maintenance of the website, the
authority shall consider the special needs of eligible entities.
4. This act shall take effect immediately.
STATEMENT
This bill requires the New Jersey Economic Development Authority (EDA) to create a website for the purpose of matching the needs and supplies of eligible entities. As defined in the bill, "eligible entity" means an entity doing business in this State in at least one of the following industries: advanced computing, advanced materials, biotechnology, electronic device technology, information technology, life sciences, medical device technology, mobile communications technology, or renewable energy technology. The EDA is required to make this website available to eligible entities including, but not limited to, businesses, real estate professionals, medical institutions, research facilities, non-profit organizations, professional associations, higher education institutions, and investors.
Under the bill, the website is required to provide a platform on which an eligible entity may match its needs with a supplier for physical locations, equipment, labor, and other appropriate assets or services.
The EDA is also required to provide a list of public and private funding sources and investment opportunities, including information on State and federal grant programs, which may be appropriate for an eligible entity.
