New Jersey S2422 requires seven percent of Main Street Recovery Fund grants to be used for veteran-owned small businesses.
New Jersey S2422 mandates that seven percent of funds from the Main Street Recovery Fund be allocated for grants to small businesses owned and controlled by veterans and service-disabled veterans. These grants can be used for capital improvements or operating expenses. The New Jersey Economic Development Authority administers the grants, subject to appropriation or federal funds availability. The bill also includes provisions for wage requirements and compliance checks for grant applicants.
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