New Jersey 2024-2025 Regular Session

New Jersey Assembly Bill A2059

Introduced

1/9/24

Refer

1/9/24

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 appropriation from the General Fund aims to directly support the Newark Venture Partners initiative, which is a public-private partnership focused on technology. By channeling these funds into technology startups, the bill is anticipated to facilitate job creation and economic growth. The financial support is designed to stimulate the local economy by potentially attracting additional investments and talent to New Jersey's technology sector.

Summary

Assembly Bill A2059 introduces a supplemental appropriation of $25 million for the Economic Development Authority of New Jersey. This funding aims to bolster the state's investment in technology start-up ventures, providing necessary financial backing to foster innovation and entrepreneurship in the region. The bill is positioned as a strategic move to enhance the state's economic landscape, especially following the fiscal planning for the year 2020.

Contention

While the bill aims to promote economic development, there may be varying viewpoints regarding the allocation of such significant funds. Some may argue that the focus on technology startups could overlook other sectors in need of investment. This discussion could lead to debates about prioritization of funds and whether such investments will yield tangible benefits for all communities in New Jersey or concentrate advantages within more affluent urban areas.

Latest NJ A2059 Activity

View All Events: NJ 2024-2025 Regular Session A2059

Companion Bills

NJ A1245

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

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 A1874

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

NJ A2073

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

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.