S 3152
Establishes NJ Non-Profit Loan Guarantee Pilot Program within EDA.
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Sign in to take action- Introduced
- Passed Senate
- Passed General Assembly
- 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 ‘New Jersey Non-Profit Loan Guarantee Fund’ and establish specific criteria for receiving and distributing these guarantees. The program’s effectiveness will be regularly evaluated and reported to the Governor and the Legislature.
Sponsors
Official sponsors from legislative records.
Primary sponsors
Nicholas Scutari
Cosponsors
M. Ruiz
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