Senate Commerce Committee Statement to Assembly, No. 3288 (1R) — State of New Jersey (December 4, 2023)

Summary

Statement of the Senate Commerce Committee, State of New Jersey, dated December 4, 2023, reporting favorably Assembly Bill No. 3288 (1R). The bill provides that the New Jersey Commission on Science, Innovation and Technology, in consultation with the New Jersey Economic Development Authority, is to establish the Blockchain Promotion and Integration Program. The commission is to consult with the New Jersey Blockchain Council and partner with groups representing small business in New Jersey. Within one year of enactment and every third year after, the commission must report to the Governor and the Legislature on blockchain and decentralized digital technology in New Jersey. The statement says the bill is identical to Senate Bill No. 3142.

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SENATE COMMERCE COMMITTEE

STATEMENT TO

[First Reprint]

ASSEMBLY,
No. 3288

STATE
OF NEW JERSEY

DATED: DECEMBER
4, 2023

The Senate Commerce Committee reports favorably
Assembly Bill No. 3288 (1R).

This bill provides that the New Jersey Commission on
Science, Innovation and Technology, in consultation with the New Jersey
Economic Development Authority, is to establish the Blockchain Promotion and
Integration Program.

The bill provides that the program is to meet certain
requirements as specified in the bill.

The bill requires the New Jersey Commission on
Science, Innovation and Technology to analyze the state of the blockchain and
decentralized digital technology sectors in New Jersey.

The bill provides that, in establishing the Blockchain
Promotion and Integration Program, the New Jersey Commission on Science,
Innovation and Technology is to:

(1) consult with the New Jersey Blockchain Council,
and integrate its efforts with those of the council to have the greatest impact
on small businesses in New Jersey; and

(2) partner with groups that represent small business
in New Jersey to connect businesses with the resources of the program and to
better serve the business community.

The bill also provides that, within one year of its
enactment, and every third year thereafter, the commission must report to the
Governor and the Legislature on the state of blockchain and decentralized
digital technology in New Jersey and make recommendations on how the State can
better achieve integration of those technologies with businesses in New Jersey.

As reported, Assembly
Bill No. 3288 (1R) is identical to Senate Bill No. 3142, as amended and
reported by the committee on this date.

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