N.J. Stat. § 34:1B-252

Current through L. 2024, c. 62.
Section 34:1B-252 - Definitions relative to certain small business funding

As used in sections 1 and 2 of P.L. 2016, c. 84(C.34:1B-252 et seq.):

"Association" means a non-profit business advocacy association whose membership comprises small businesses in need of surety bonding.

"Authority" shall have the same meaning as provided in section 3 of P.L. 1974, c.80 (C.34:1B-3).

"Fund" means the "Small Business Bonding Readiness Assistance Fund" established pursuant to section 2 of P.L. 2016, c. 84(C.34:1B-253).

"Program" means the "Small Business Bonding Readiness Assistance Program" established pursuant to section 2 of P.L. 2016, c. 84(C.34:1B-253).

"Small business" means a business engaged in the conduct of a trade or business in this State that qualifies as a "small business concern" within the meaning of the federal "Small Business Act," Pub.L. 85-536(15 U.S.C. s. 631 et seq.) for the purpose of the small business's eligibility for performing a contract offered by the federal government or for assistance from the United States Small Business Administration. "Small business" shall also include a small business established in this State that is certified, pursuant to federal law, under the United States Small Business Administration's 8(a) Business Development Program or the HUBZone Program, or as a Small Disadvantaged Business, or as a Section 3 business concern by the United States Department of Housing and Urban Development.

N.J.S. § 34:1B-252

Added by L. 2016, c. 84,s. 1, eff. 1/4/2017.