SENATE, No. 3519

STATE OF NEW JERSEY

219th LEGISLATURE

 

INTRODUCED MARCH 9, 2021

 


 

Sponsored by:

Senator  LINDA R. GREENSTEIN

District 14 (Mercer and Middlesex)

Senator  JOSEPH A. LAGANA

District 38 (Bergen and Passaic)

 

Co-Sponsored by:

Senators Thompson, Addiego, Cunningham, Cruz-Perez, Diegnan, Oroho, O'Scanlon, Ruiz, Sarlo, Singleton and Testa

 

 

 

 

SYNOPSIS

     Appropriates $15 million in federal funds to EDA to support businesses and nonprofits in need.

 

CURRENT VERSION OF TEXT

     As introduced.

  


A Supplement to the Fiscal Year 2021 appropriations act, P.L.2020, c.97.

 

     Be It Enacted by the Senate and the General Assembly of the State of New Jersey:

 

     1.    In addition to the amounts appropriated under P.L.2020, c.97, the annual appropriations act for Fiscal Year 2021, there is appropriated the following sum for the purpose specified:

 

82 DEPARTMENT OF THE TREASURY

50 Economic Planning, Development, and Security

51 Economic Planning and Development

 

GRANTS-IN-AID

38-2043

Economic Development ........................................................

$15,000,000

 

Total Grants-in-Aid Appropriation,                           

Economic Planning and Development ………………………

$15,000,000

Grants-in-Aid:

 

 

38

Coronavirus Relief Fund – Assistance to Businesses and Nonprofits, EDA................

($15,000,000)

 

 

The amount hereinabove appropriated for Coronavirus Relief Fund – Assistance to Businesses and Nonprofits, EDA shall be allocated from a portion of 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 (CARES Act),” Pub.L.116-136, or any other federal funds made available to the State in response to the coronavirus disease 2019 (COVID-19) pandemic.

 

The amount hereinabove appropriated for Coronavirus Relief Fund – Assistance to Businesses and Nonprofits, EDA shall be allocated by the New Jersey Economic Development Authority to businesses and nonprofit organizations in this State to prevent additional business and nonprofit organization closures, to preserve and create jobs, and to spur economic recovery. The New Jersey Economic Development Authority shall establish minimum grant eligibility criteria and the size of the grant awards to meet the needs of the grantee entities in responding to the public health crisis.

 

     2.    This act shall take effect immediately.

 

 

STATEMENT

 

     This bill appropriates $15 million in federal funds to the Economic Development Authority (EDA) to award grants for the public purpose of supporting an important part of the State’s economy affected by the public health crisis. The grants will be awarded by the EDA to businesses and nonprofit organizations who are in need of support as a result of the public health crisis.