"Innovate New Jersey Act"; establishes tax-free business incubators at institutions of higher education.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
The Innovate New Jersey Act establishes tax-free business incubators at institutions of higher education in New Jersey. These incubators, overseen by the Innovate New Jersey Board, aim to support the development of innovative technology research and create new jobs. The bill defines key terms related to the program, including ‘advanced technology center’ and ‘business incubation facility,’ and outlines the process for institutions of higher education to apply for and receive approval to operate these incubators. It also establishes a grant fund to support these initiatives.
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1 on record
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