SENATE ECONOMIC GROWTH COMMITTEE

STATEMENT TO

SENATE, No. 3204

STATE OF NEW JERSEY

DATED:  JANUARY 26, 2023

      The Senate Economic Growth Committee reports favorably Senate Bill No. 3204.

      As reported, this bill would require the New Jersey Business Action Center (BAC) to establish and maintain a small business manual, which would be made publicly available and would provide information and guidance on establishing, maintaining, and expanding a small business.  In developing the manual, the BAC would be required to collaborate with the New Jersey Economic Development Authority, the New Jersey Business and Industry Association, the New Jersey Chamber of Commerce, and regional chambers of commerce across the State.

      At a minimum, the small business manual would be required to include information concerning: (1) State and local permits and inspections; (2) financial assistance programs; (3) lease contracts; (4) commercial real estate transactions, including methods on how to acquire commercial real estate; and (5) any other information that the executive director of the BAC deems necessary.

      Under the bill, the small business manual would be made available to the public one year following the effective date of the bill.  Thereafter, the executive director of the BAC would be required to periodically update the information contained in the manual.

      As reported, this bill is identical to Assembly Bill No. 4749, which was also reported by the committee on this date.