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 appropriates $750,000 from the General Fund to support this initiative. To qualify for the grants, small businesses must demonstrate their eligibility based on specific criteria, including being independently owned, employing fewer than 100 individuals, and suffering economic loss due to the aforementioned projects.

The EDA is tasked with determining the grant amounts based on actual or projected revenue losses and is required to develop an application process for small businesses to apply for these grants. The authority will also establish a Small Business Interruption Grant Program Fund to manage the distribution of funds and oversee the program's administration. Additionally, the EDA is authorized to adopt necessary rules and regulations to implement the program effectively, including application requirements and criteria for grant selection.