ASSEMBLY, No. 1065

STATE OF NEW JERSEY

Introduced Pending Technical Review by Legislative Counsel

PRE-FILED FOR INTRODUCTION IN THE 1996 SESSION

By Assemblymen AZZOLINA and BATEMAN

An Act authorizing the Commissioner of Commerce and Economic Development to establish a "New Jersey Corporate Overseas Network Program" and supplementing P.L.1985, c.160 (C.52:27H-22.1 et seq.).

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

    1. The Commissioner of Commerce and Economic Development is authorized to establish a New Jersey Corporate Overseas Network Program.

    2. The purpose of the New Jersey Overseas Network Program shall be to promote international trade through the existing network of international contacts New Jersey firms have established and to enable the division to develop a network of free or shared-office space arrangements with New Jersey companies with established international offices. The program shall function as a mechanism to enable New Jersey companies with international contacts to provide new leads in the export, joint venture partnership and foreign investment areas to the division and the division shall share those leads with appropriate New Jersey businesses.

    3. The commissioner is authorized to delegate responsibilities for the program to a nonprofit entity designated by the department which may include a nonprofit corporation organized to implement the recommendations of the economic master plan commission. The commissioner is also authorized to work with private sector businesses to develop public-private partnerships to assist in establishing the New Jersey Corporate Overseas Network Program. As used in this section, "economic master plan commission" means the New Jersey Economic Master Plan Commission established pursuant to Executive Order No. 1 issued by the Governor on January 18, 1994.

    4. Within one year of the effective date of this act, the commissioner shall report to the Governor and the Legislature on the outcome of the department's efforts to establish and implement a New Jersey Corporate Overseas Network Program authorized pursuant to this act.

    5. This act shall take effect immediately.

STATEMENT

    This bill authorizes the Commissioner of Commerce and Economic Development to establish a New Jersey Corporate Overseas Network Program.

    The New Jersey Corporate Overseas Network Program would supplement trade leads the Division of International Trade develops during trade shows, trade missions and other such events by calling on New Jersey companies with international contacts to provide new leads in the export, joint venture partnership and foreign investment areas to the division. The division would share those leads with appropriate New Jersey businesses. The program is also intended to enable the division to identify opportunities to develop free or shared-space arrangements with New Jersey companies which have established international offices.

    The bill authorizes the commissioner to delegate responsibilities for the program to a nonprofit entity designated by the department, which may include a nonprofit corporation proposed by the New Jersey Economic Master Plan Commission, to implement the recommendations of the master plan commission.

    The bill requires the commissioner to report to the Governor and the Legislature on the outcome of the department's efforts to implement the program within one year of the effective date of the bill.

Authorizes the Commissioner of Commerce and Economic Development to establish a New Jersey Corporate Overseas Network Program.