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Singleton Bill to Require the EDA to be Transparent About Financial Assistance Passes Committee

Trenton – Legislation to require the New Jersey Economic Development Authority (EDA) to publish information related to financial assistance offered in response to a public emergency passed the Senate Economic Growth Committee today. The bill is sponsored by Senator Troy Singleton.

“A transparent government is one that has the public’s trust. This is especially important during times of crisis,” said Senator Singleton (D-Burlington). “Currently, the EDA is not required to inform the public of who receives financial assistance, or how much they receive. This bill would allow the public to have a clear picture of how the EDA distributes funding during emergencies and economic disruption.”

The bill would require the EDA to publish, on its website, a list of all applicants seeking EDA assistance during declared periods of emergency and for the duration of economic downturns due to the emergency. The EDA would also have list whether the applicant was approved for or denied assistance, as well as the amount of assistance that was given.

The bill, S-2521, was released from committee by a vote of 5-0.