ASSEMBLY, No. 1515

STATE OF NEW JERSEY

INTRODUCED FEBRUARY 8, 1996

By Assemblyman AZZOLINA

An Act to require an annual appropriation to the New Jersey Economic Development Authority and supplementing P.L.1974, c.80.

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

    1. a. For the fiscal year beginning July 1, 1996 and for each fiscal year thereafter up to and including the fiscal year that ends on June 30, 2012, there shall be appropriated $2,000,000 annually out of the General Fund to the New Jersey Economic Development Authority.

    b. These annual appropriations shall be used by the authority for any purpose allowable under "The New Jersey Economic Development Authority Act," P.L.1974, c.80 (C.34:1B-1 et seq.).

    2. This act shall take effect immediately .

STATEMENT

    This bill requires an appropriation of $2 million annually, beginning with the 1996-1997 fiscal year and for each fiscal year thereafter up to and including the fiscal year that ends June 30, 2012, to the New Jersey Economic Development Authority to support its investment, loan and other authorized activities.

Requires $2 million annual appropriation to support EDA activities.