New Jersey 2022-2023 Regular Session

New Jersey Assembly Bill A1245

Introduced

1/11/22

Refer

1/11/22

Caption

Makes FY 2020 supplemental appropriation of $25 million for Economic Development Authority for augmenting State's investment in technology start-up ventures.

Impact

The impact of A1245 extends into the fiscal operations of New Jersey, as it proposes an additional allocation outside of the previously established budget for the fiscal year 2020. By channeling funds specifically towards the Economic Development Authority, the bill seeks to streamline resources directed towards startup initiatives, thus potentially catalyzing job creation and technological advancement within the state. This allocation is seen as a means to stimulate economic revitalization through targeted investments in sectors that can yield substantial returns.

Summary

Assembly Bill A1245 proposes a supplemental appropriation of $25 million to the Economic Development Authority of New Jersey. This funding aims to augment the state's investments in technology startup ventures, highlighting the state's commitment to fostering innovation and economic growth through the support of nascent companies. The intent of the bill aligns with broader economic strategies targeted at enhancing New Jersey's position as a hub for technology and entrepreneurial activities.

Contention

While the bill primarily seeks to enhance state investment in technology, there may be underlying concerns regarding fiscal accountability and the effectiveness of public-private partnerships. Critics could argue that establishing large appropriations for startup funding should be accompanied by stringent oversight and measurable outcomes, ensuring that taxpayer money is utilized efficiently and that there is a tangible return on investment for the state. Opposition may also emerge regarding the selection process for funding recipient programs, with calls for transparency and inclusivity in supporting diverse technology ventures across the state.

Latest NJ A1245 Activity

View All Events: NJ 2022-2023 Regular Session A1245

Companion Bills

No companion bills found.

Previously Filed As

NJ A2161

Makes supplemental appropriation of $615,000 to DHS for grant to NJ 2-1-1 Partnership.

NJ A2157

Supplemental appropriation of $3.6 million to DHS to increase adult medical day care Medicaid per diem rate from $89.55 to $93.10.

NJ A2245

Makes FY2026 supplemental appropriation of $30 million from General Fund to Food and Hunger Programs in Department of Agriculture.

NJ A4286

Makes FY2026 supplemental appropriation of $30 million from General Fund to Food and Hunger Programs in Department of Agriculture.

NJ A1159

Makes supplemental appropriation of $500,000 to DCA for NJ State Veterans Chamber of Commerce for veteran economic development and outreach and skills development.

NJ A2313

Makes FY2025 supplemental appropriation of $10 million for Unmanned Aircraft Systems Grant Program.

NJ A1741

Makes FY2026 supplemental appropriation of $175 million from General Fund to DHS for Emergency SNAP Replacement Benefits.

NJ A2073

Makes supplemental appropriation of up to $20 million from General Fund to DOE to support school facility cleaning and sanitization.

NJ A1874

Makes FY2023 supplemental appropriation of $17 million to DEP for grants for certain lake management activities.

NJ S2725

Makes FY2026 supplemental appropriation of $30 million from General Fund to Food and Hunger Programs in Department of Agriculture.

Similar Bills

MD SB282

Budget Bill (Fiscal Year 2027)

MD HB390

Budget Bill (Fiscal Year 2027)

MD HB0390

Budget Bill (Fiscal Year 2027)

MD HB350

Budget Bill (Fiscal Year 2026)

MD SB319

Budget Bill (Fiscal Year 2026)

PA HB1330

To provide appropriations from the General Fund for the expenses of certain agencies of the Executive Department for the fiscal year July 1, 2025, to June 30, 2026, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2025.

PA SB160

To provide appropriations from the General Fund for the expenses of the Executive, Legislative and Judicial Departments of the Commonwealth, the public debt and the public schools for the fiscal year July 1, 2025, to June 30, 2026, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2025; to provide appropriations from special funds and accounts to the Executive and Judicial Departments for the fiscal year July 1, 2025, to June 30, 2026, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2025; to provide for the appropriation of Federal funds to the Executive and Judicial Departments for the fiscal year July 1, 2025, to June 30, 2026, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2025; and to provide for the additional appropriation of Federal and State funds to the Executive and Legislative Departments for the fiscal year July 1, 2024, to June 30, 2025, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2024.

PA SB1220

To provide appropriations from the General Fund for the expenses of the Executive, Legislative and Judicial Departments of the Commonwealth, the public debt and the public schools for the fiscal year July 1, 2026, to June 30, 2027, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2026; to provide appropriations from special funds and accounts to the Executive and Judicial Departments for the fiscal year July 1, 2026, to June 30, 2027, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2026; to provide for the appropriation of Federal funds to the Executive and Judicial Departments for the fiscal year July 1, 2026, to June 30, 2027, and for the payment of bills remaining unpaid at the close of the fiscal year ending June 30, 2026.