A $235 million bill package designed to aid small businesses throughout the state that have struggled as a result of the ongoing COVID-19 pandemic was approved by the full Assembly on Thursday.
The bills are sponsored by Assembly Democrats Vince Mazzeo (D-Atlantic), Roy Freiman (D-Somerset, Mercer, Middlesex, Hunterdon), Lisa Swain (D-Bergen, Passaic), Andrew Zwicker, (D- Somerset, Mercer, Middlesex, Hunterdon), John Armato (D-Atlantic), Chris Tully (D-Bergen, Passaic), Pedro Mejia (D-Bergen, Hudson), Angela McKnight (D-Hudson), Adam Taliaferro (D-Gloucester, Cumberland, Salem), Nicholas Chiaravalloti (Hudson), Linda Carter (D-Middlesex, Somerset, Union), Joann Downey (D-Monmouth), Yvonne Lopez (D-Middlesex), Stanley Sterley (D-Middlesex) and Eric Houghtaling (D-Monmouth).
The sponsors issued the following joint statement:
“Small businesses are the backbone of New Jersey’s economy and assisting them as we reopen our state is paramount. We need to bolster our small business community in every way possible. Giving them the resources they need to survive and thrive is a win-win. As New Jersey returns to normalcy, we must ensure that everyone is well-positioned for our inevitable recovery.”
Specifically, the funds would be allocated as follows:
- Microbusinesses: $120 million (Mazzeo)
- Bars and Restaurants: $20 million (Freiman)
- Child Care Facilities: $10 million ((Swain)
- New Businesses and Start-Ups: $25 million (Zwicker)
- Sustain and Serve: $10 million (Armato)
- Other Small Businesses: $50 million (Tully)
The legislative package includes the following bills:
|Appropriates $120 million from General Fund to EDA to support microbusinesses impacted by COVID-19 pandemic.|
|Appropriates $10 million from General Fund to EDA to support child care providers impacted by COVID-19 pandemic.|
|Appropriates $20 million from General Fund to EDA to support food and beverage establishments impacted by COVID-19 pandemic.|
|Tully, P. Christopher
/McKnight Angela V.
|Appropriates $50 million from General Fund to EDA to support businesses and nonprofit organizations impacted by COVID-19 pandemic.
/Stanley, Sterley S.
/Carter, Linda S.
|Appropriates $25 million from General Fund to EDA to support new businesses.|
|Appropriates $10 million from General Fund to EDA to support sustain and serve.|