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S3827
SENATE, No. 3827
STATE OF NEW JERSEY
222nd LEGISLATURE
�
INTRODUCED MARCH 10, 2026
Sponsored by:
Senator� LINDA R. GREENSTEIN
District 14 (Mercer and Middlesex)
Senator� ANDREW ZWICKER
District 16 (Hunterdon, Mercer, Middlesex and Somerset)
Co-Sponsored by:
Senator McKnight
SYNOPSIS
���� Establishes advertisement grant program for NJ
emerging businesses.�
CURRENT VERSION OF TEXT
���� As introduced.
��
An Act
establishing an advertisement grant program for New
Jersey emerging businesses and supplementing P.L.1974, c.80 (C.34:1B-1 et
seq.).
����
Be It
Enacted
by the Senate and General Assembly of
the State of New Jersey:
���� 1.��� As used in P.L. ,
c. (C. )
(pending before the Legislature as this bill):�
���� �Authority� means the New
Jersey Economic Development Authority established pursuant to section 4 of
P.L.1974, c.80 (C.34:1B-4).
���� �New Jersey emerging business�
means a company with fewer than 225 employees, of whom at least 75 percent are
filling a position in New Jersey, that is doing business, employing or owning
capital or property, or maintaining an office in this State.
���� 2.��� a.� The New Jersey
Economic Development Authority shall develop and administer a �New Jersey
Emerging Business Advertising Grant Program� to stimulate economic development
in the State by supporting the advertising and marketing expenses of qualified
business entities.
���� b.��� (1) �An applicant for a
grant pursuant to this section shall apply to the authority, in a form and
manner as determined by the authority, and shall include such information as
the authority determines is necessary in consideration of the provisions of
P.L. , c. (C. )
(pending before the Legislature as this bill).
���� (2) �In order to receive a
grant from the authority pursuant to P.L. , c. (C. ) (pending before the Legislature as this bill)the applicant
shall:�
���� (a)�� be a New Jersey emerging
business; and
���� (b)�� comply with any other
criteria established by the authority pursuant to rules and regulations adopted
pursuant to section 3 of P.L. , c.
(C. ) (pending before the
Legislature as this bill).
���� (3)�� The authority may
approve applications for the grant program on a rolling basis, subject to the
availability of funds and the rules and regulations adopted pursuant to section
3 of P.L. , c. (C. )
(pending before the Legislature as this bill).
���� c.���� (1)� The grants
provided under this section shall be issued in such amounts as the authority
deems appropriate, subject to the terms and conditions prescribed by the
authority.
���� (2)�� Subject to any
additional terms or conditions that may be prescribed by the authority, each
grant issued pursuant to this section shall be used exclusively to support
advertising and marketing costs.�
���� d.��� The recipient of a
program grant shall submit an audited financial statement to the authority on a
yearly basis in order to ensure the applicant has properly used the grant and the
applicant remains an eligible New Jersey emerging business until such time as
all grant monies have been expended.
���� If the authority determines
that a recipient of a program grant improperly used the grant, the authority
shall convert the grant to a loan pursuant to rules and regulations adopted by
the authority pursuant to section 3 of P.L. , c.
(C. ) (pending before the
Legislature as this bill).
���� 3.��� The New Jersey Economic
Development Authority shall adopt, pursuant to the �Administrative Procedure
Act,� P.L.1968, c.410 (C.52:14B-1 et seq.), rules and regulations necessary to
effectuate the purposes of P.L. , c.
(C. ) (pending before the
Legislature as this bill).
���� 4.��� This act shall take
effect immediately.
STATEMENT
���� This bill requires the New
Jersey Economic Development Authority (authority) to establish a �New Jersey
Emerging Business Advertising Grant Program� to provide funds to New Jersey
emerging businesses to support advertising and marketing expenses.
���� The bill defines �New Jersey
emerging business� to mean a company with fewer than 225 employees, of whom at
least 75 percent are filling a position in New Jersey that is doing business,
employing or owning capital or property, or maintaining an office in this State.�
To qualify for the grant program, the business must be a New Jersey emerging
business.� The authority would also be permitted to establish any other
eligibility requirements that it deems appropriate.� Additionally, the
authority would determine the amounts of each grant awarded under the program.�
���� The bill also requires grant
recipients to submit an audited financial statement to the authority to demonstrate
compliance with the terms and conditions of the grant program on a yearly basis
until all monies from the fund have been expended.� If a recipient improperly
uses the grant, the authority would be required to convert the grant to a loan.