Bill Text: NJ A3886 | 2024-2025 | Regular Session | Introduced
Bill Title: Establishes Blockchain Promotion and Integration Program.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-02-27 - Introduced, Referred to Assembly Science, Innovation and Technology Committee [A3886 Detail]
Download: New_Jersey-2024-A3886-Introduced.html
Sponsored by:
Assemblyman CHRIS TULLY
District 38 (Bergen)
SYNOPSIS
Establishes Blockchain Promotion and Integration Program.
CURRENT VERSION OF TEXT
As introduced.
An Act establishing the Blockchain Promotion and Integration Program and supplementing P.L.1985, c.102 (C.52:9X-1 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. The New Jersey Commission on Science, Innovation and Technology, in consultation with the New Jersey Economic Development Authority, shall establish the Blockchain Promotion and Integration Program.
b. The program shall:
(1) increase public awareness of the uses and benefits of blockchain and decentralized digital technology;
(2) provide assistance to businesses in the integration of blockchain and other decentralized digital technologies;
(3) establish connections to the business community though direct outreach and through partnering with groups that represent small business in New Jersey;
(4) include research and information on commercial opportunities in blockchain and decentralized digital technology for businesses in New Jersey;
(5) provide technical and financial assistance to blockchain and decentralized digital technology companies that are considering locating in New Jersey;
(6) represent and assist in representing the interests of New Jersey-based firms in the national and international markets for blockchain and decentralized digital technology through conferences and seminars;
(7) provide New Jersey-based firms with customized technical, financial, and other assistance concerning blockchain and decentralized digital technology; and
(8) recruit capital investment in New Jersey to be applied to the blockchain and decentralized digital technology industries.
c. In order to effectuate the purposes of P.L. , c. (C. ) (pending before the Legislature as this bill), the New Jersey Commission on Science, Innovation and Technology shall analyze the state of the blockchain and decentralized digital technology sectors in New Jersey, including, but not limited to, public awareness of the sectors, integration with the business community, opportunities and risks, emerging processes and trends, capital availability, education and training needs, and infrastructure development.
d. In establishing the Blockchain Promotion and Integration Program and effectuating the purposes of P.L. , c. (C. ) (pending before the Legislature as this bill), the New Jersey Commission on Science, Innovation and Technology shall:
(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.
e. Within one year of the enactment of P.L. , c. (C. ) (pending
before the Legislature as this bill), and every third year thereafter, the
commission shall report to the Governor and, pursuant to section 2 of P.L.1991,
c.164
(C.52:14-19.1), to 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 the technology with businesses in
New Jersey.
2. This act shall take effect on the 30th day next following enactment.
STATEMENT
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.
