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. To facilitate this program, the bill appropriates $750,000 from the General Fund to establish the Small Business Interruption Grant Program Fund.

In addition to establishing the grant program, the EDA is tasked with developing an application process for small businesses to apply for grants, which will be awarded on a rolling basis depending on fund availability. The EDA is also responsible for creating necessary regulations to implement the program, including application requirements and criteria for grant selection. The bill emphasizes the importance of supporting small businesses in low-income areas that are adversely affected by state infrastructure projects, thereby promoting economic stability in these communities.