The New Jersey Secretary of Commerce Act establishes the Department of Commerce as a principal department within the Executive Branch of the State government. This new department aims to centralize and streamline efforts to support and develop business, industry, and innovation in New Jersey, addressing challenges in retaining and attracting businesses and creating high-quality jobs. The act appoints a Secretary of Commerce, who will serve as the chief economic development officer and principal advisor to the Governor on commerce and economic policy. The Secretary will oversee the department's activities, coordinate statewide efforts for job creation and business expansion, and submit an annual State of Commerce report to the Governor and Legislature.

Additionally, the bill transfers the Business Action Center from the Department of State to the newly established Department of Commerce, ensuring continuity of its functions and duties. The Secretary is tasked with preparing a report within three months of the bill's effective date, identifying functions related to commerce and economic development that may be transferred to or from the department. Furthermore, within six months, the Secretary will review the operations and personnel of agencies transferred to the Department of Commerce and, if necessary, develop a reorganization plan with the approval of relevant state authorities. The bill also includes an appropriation from the General Fund for its implementation and sets the salary for the Secretary of Commerce at $210,000 starting in 2024.

Statutes affected:
Introduced: 52:14-15.107