Establishes small hospitality business winter preparation purchase or reimbursement program in EDA; appropriates $50 million to EDA from federal funds.

2026-2027 Regular Session Introduced by Nilsa Cruz-Perez

NJ will create a $50M EDA program to help small hospitality businesses with winter preparedness, via grants or reimbursements.

Summary of Bill S 4592 (Session 222) – New Jersey

Purpose and intent

Establishes a winter preparation purchase or reimbursement program within the New Jersey Economic Development Authority (EDA) to support small hospitality businesses.

Aims to help small hotels, restaurants, and related hospitality enterprises prepare for winter-related costs and disruptions.

Authorized appropriation of $50 million to the EDA from federal funds to fund the program.

Key provisions and changes

Creation of a dedicated program within the New Jersey Economic Development Authority (EDA) to assist small hospitality businesses with winter preparedness.

Eligible uses likely include purchases or reimbursements related to winter readiness (the bill text would specify eligible items such as equipment, supplies, or services designed to mitigate winter operating challenges; the summary below notes typical categories but exact eligible items should be confirmed in the bill language).

Funding mechanism: $50 million in federal funds allocated to the EDA to support the program.

Application and approval processes (details would be in the bill): sets criteria for eligibility, application timelines, and the method by which funds are disbursed to approved applicants.

Possible performance or reporting requirements to ensure funds are used for intended winter-prep purposes and to track impact on participating businesses.

Who is affected

Target beneficiaries: small hospitality businesses in New Jersey, including but not necessarily limited to hotels, motels, inns, bed-and-breakfasts, and potentially related hospitality service providers.

Indirect effects: improved resilience of small hospitality establishments during winter months, potential preservation of jobs, and continued operation during winter weather or seasonal downturns.

Procedural and timeline aspects

The bill authorizes an appropriation of $50 million to the EDA sourced from federal funds (specific grant/award periods and duration would be detailed in the bill).

Implementation would depend on regulatory rules, program guidelines, and any required federal or state approvals for the use of federal funds.

The bill designates the EDA as the administering agency, responsible for outreach, eligibility determination, fund disbursement, and program oversight.

Potential impact and considerations

Financial impact: $50 million total funding available for winter-prep assistance to eligible small hospitality businesses.

Economic impact: could bolster winter resilience, reduce weather-related business interruptions, and support job retention in the hospitality sector.

Equity considerations: program terms would ideally address accessibility for small, minority- or woman-owned businesses and other underserved operators within the hospitality industry.

Oversight and accountability: expected reporting requirements and potential clawback or reversion provisions if funds are not obligated or used as intended.

Note: For precise eligibility criteria, eligible expenditures, application procedures, and timeline, review the full bill text and any associated administrative rules or implementing guidelines.