This bill establishes the New Jersey Emerging Business Advertising Grant Program, aimed at supporting emerging businesses in the science and technology sectors by covering their advertising and marketing expenses. The New Jersey Economic Development Authority (EDA) is tasked with developing and administering this program. An "emerging business in science and technology" is defined as a company with fewer than 225 employees, with at least 75 percent of those employees working in New Jersey, and engaged in technology commercialization in specified industries such as biotechnology, advanced computing, and renewable energy technology. To qualify for the grant, businesses must meet these criteria and any additional requirements set by the EDA.

Grant recipients are required to submit an audited financial statement annually to ensure proper use of the funds and continued eligibility as an emerging business. If the EDA finds that a recipient has misused the grant, it has the authority to convert the grant into a loan. The bill mandates the EDA to adopt necessary rules and regulations to implement the program effectively, and it is set to take effect immediately upon passage.