SENATE BUDGET AND APPROPRIATIONS COMMITTEE

 

STATEMENT TO

 

SENATE, No. 3524

 

with committee amendments

 

STATE OF NEW JERSEY

 

DATED: †MARCH 22, 2021

 

††††† The Senate Budget and Appropriations Committee reports favorably Senate Bill No. 3524, with committee amendments.

††††† As amended, the bill makes $35 million in federal funds available to the Economic Development Authority (EDA) to award grants to restaurants and bars with 50 or fewer employees and who are in need of support as a result of the public health crisis. †The EDA may use up to five percent of these funds to support administrative expenses.

††††† The bill also allows the EDA to transfer the uncommitted balance of these funds to certain other programs administered by the authority using federal COVID-19 response funding.† However, the EDA would be required to submit notice of the transfer to the Joint Budget Oversight Committee.

 

COMMITTEE AMENDMENTS:

††††† The committee amended the bill to:

††††† (1)† restructure the bill such that it is not a supplemental appropriation, but rather makes funding available for the billís designated purpose;

††††† (2)† reduce from 100 to 50 the maximum number of employees who may be employed by an eligible food and beverage establishment;

††††† (3)† allow the EDA to use up to five percent of the federal funds to support administrative expenses incurred in the implementation of the bill; and

††††† (4)† allow the EDA to transfer the uncommitted balance of federal funds to certain other programs administered by the authority using federal COVID-19 response funding, provided that the EDA submit notice to the Joint Budget Oversight Committee.

 

FISCAL IMPACT:

††††† This bill is not certified as requiring a fiscal note.