A 3869
Establishes NJ Non-Profit Loan Guarantee Pilot Program within EDA.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill establishes the New Jersey Non-Profit Loan Guarantee Pilot Program within the New Jersey Economic Development Authority (EDA). The program will provide loan guarantees to non-profit organizations constructing new physical spaces, aiming to create jobs and generate revenue. It requires the EDA to create a dedicated fund, secure funding from the Economic Recovery Fund, and establish specific criteria for loan guarantee applications and agreements. The program’s effectiveness will be evaluated through annual reports to the Governor and the Legislature.
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Primary sponsors
Craig Coughlin
Cosponsors
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