Bill Text: NJ A2918 | 2010-2011 | Regular Session | Introduced
Bill Title: Provides for transfer of certain funds from Main Street Business Assistance program to "Main Street New Jersey Program Fund."
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2010-06-14 - Introduced, Referred to Assembly Commerce and Economic Development Committee [A2918 Detail]
Download: New_Jersey-2010-A2918-Introduced.html
Sponsored by:
Assemblyman NELSON T. ALBANO
District 1 (Cape May, Atlantic and Cumberland)
Assemblyman MATTHEW W. MILAM
District 1 (Cape May, Atlantic and Cumberland)
SYNOPSIS
Provides for transfer of certain funds from Main Street Business Assistance program to "Main Street New Jersey Program Fund."
CURRENT VERSION OF TEXT
As introduced.
An Act providing for the transfer of certain funds from the Main Street Business Assistance Program to the "Main Street New Jersey Program Fund."
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. The New Jersey Economic Development Authority established pursuant to section 4 of P.L.1974, c.80 (C.34:1B-4) shall transfer, on or before the fifth day after enactment of P.L. , c. (pending before the Legislature as this bill), an amount that shall not be less than $3,000,000, as shall be determined by the State Treasurer, from the Main Street Business Assistance Program established pursuant to section 4 of P.L.1992, c.16 (C.34:1B-7.13), to the "Main Street New Jersey Program Fund," established in the Department of Community Affairs pursuant to section 6 of P.L.2001, c.238 (C.52:27D-457), for the purpose of funding the "Main Street New Jersey" program created under section 1 of P.L.2001, c.238 (C.52:27D-452).
2. This act shall take effect immediately.
STATEMENT
This bill provides for the transfer of $3,000,000, or some larger amount as shall be determined by the State Treasurer, from the Main Street Business Assistance Program to the "Main Street New Jersey Program Fund" established under section 6 of P.L.2001, c.238 (C.52:27D-457), to fund the "Main Street New Jersey" program.
The purpose of the "Main Street New Jersey" program is to provide small business assistance services to local downtown communities, including business owners and entrepreneurs, with a long-term goal of revitalizing local downtown areas. The statute establishing the program authorizes the Department of Community Affairs, as program administrator, to: (1) contract with the National Main Street Center and others to assist in accomplishing the program's objectives and provide technical assistance to the program at the State and local level; (2) develop a plan detailing the methods by which the department shall coordinate the activities of the program with private and public sector revitalization of downtown business areas, solicit and use private sector funding for revitalization of downtown areas, and help municipalities engage in revitalization of their downtown business areas; and (3) coordinate and cooperate with other State and local public and private entities that provide services to municipalities undertaking projects for the revitalization of downtown business areas.
