The bill establishes the New Jersey Veterans Organization Building Grant Program, designed to provide financial assistance for the construction and improvement of facilities used by veterans' organizations in the state. It amends existing law by adding the language "and section 3 of P.L. , c. (C. ) (pending before the Legislature as this bill)" to clarify the program's inclusion. The program aims to enhance resources for veterans' organizations, promoting their activities and services. The New Jersey Economic Development Authority will oversee the program, with powers to acquire property, enter contracts, and establish reserve funds for funded projects. To support the program, the bill creates the Veterans Organization Building Grant Fund within the Department of the Treasury, funded through taxpayer contributions on New Jersey gross income tax returns and annual legislative appropriations. It appropriates $2,000,000 from the General Fund to facilitate the program's implementation. Grants will be awarded on a competitive basis to organizations designated as 501(c)(19) by the IRS, with the authority responsible for developing award criteria and managing the application process. The act will take effect 180 days after enactment.

Statutes affected:
Introduced: 34:1B-3, 34:1B-5