This bill mandates the New Jersey Economic Development Authority (EDA) to create a Small Business Interruption Grant Program aimed at providing financial assistance to small businesses located in low-income communities that have experienced economic losses due to prolonged infrastructure or construction projects initiated by the State or other public entities. The bill specifies that the EDA will determine the grant amounts based on the actual or projected revenue losses incurred by these businesses. Additionally, the EDA is tasked with developing an application process for small businesses to apply for grants, which will be awarded on a rolling basis as funds are available.

To support this initiative, the bill appropriates $750,000 from the General Fund to establish the Small Business Interruption Grant Program Fund, which will be used to provide grants and administer the program. The EDA is also required to set up necessary procedures, timelines, and reporting requirements for the grant program. The bill emphasizes that small businesses eligible for grants must meet specific criteria, including being independently owned, employing fewer than 100 individuals, and demonstrating economic loss due to the relevant infrastructure or construction projects.