Assembly Commerce and Economic Development Committee Statement to Assembly, No. 5443 (March 8, 2021)

Summary

An Assembly Commerce and Economic Development Committee statement to Assembly, No. 5443, State of New Jersey, dated March 8, 2021, reporting the bill favorably with committee amendments. The bill makes $25 million in federal funds available to the Economic Development Authority to award grants to microbusinesses with 10 or fewer full-time equivalent employees that need support as a result of the public health crisis. The committee amendments changed the bill from a supplemental appropriation to one that makes funding available for its designated purpose.

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ASSEMBLY COMMERCE AND ECONOMIC DEVELOPMENT COMMITTEE

STATEMENT TO

ASSEMBLY,
No. 5443

with
committee amendments

STATE
OF NEW JERSEY

DATED: MARCH
8, 2021

The Assembly Commerce and Economic Development
Committee reports favorably and with committee amendments Assembly Bill No.
5443.

This bill, as amended, makes $25 million in federal
funds available to the Economic Development Authority (EDA) to award grants to
microbusinesses that produce goods or provide services and have 10 or fewer
full-time equivalent employees and who are in need of support as a result of
the public health crisis.

COMMITTEE AMENDMENTS :

The committee amended the bill so that it is not a
supplemental appropriation, but rather makes funding available for the bill’s
designated purpose.

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