LEGISLATIVE FISCAL ESTIMATE TO

ASSEMBLY, No. 1433

STATE OF NEW JERSEY

DATED: April 1, 1996

      Assembly Bill No. 1433 of 1996 authorizes the Commissioner of Commerce and Economic Development to establish the Higher Education International Network for the purpose of utilizing the international contacts developed by State and private institutions of higher education to promote international business for New Jersey companies through reverse investment, foreign trade and venture partnerships.

      The bill authorizes the commissioner to: (1) identify how foreign offices and affiliations of institutions of higher education can be utilized to promote international trade; (2) establish relationships with institutions of higher education for participation on the Higher Education International Network; (3) develop procedures for dissemination of information gathered through the network to New Jersey companies; and (4) take all appropriate action to develop and facilitate the use of the network, which may include delegating responsibilities for establishing the network to a designated nonprofit corporation.

      The Office of Legislative Services (OLS) estimates that enactment of this bill will have no fiscal impact on the State budget, since establishment of the proposed network would utilize existing department personnel and services. Further, the OLS notes that at the discretion of the commissioner, responsibility for establishing the network may be delegated to a nonprofit entity.

This fiscal estimate has been prepared pursuant to P.L.1980, c.67.