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Bill

S 2804

Establishes the "Urban Wealth Fund Pilot Program."

2026-2027 Regular Session Introduced by Angela McKnight

New Jersey bill establishes Urban Wealth Fund pilot program to build economic opportunity and assets in urban communities through targeted investment and development.

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee
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Bill Summary · S 2804

Legislative bill overview

S 2804 establishes a pilot program called the "Urban Wealth Fund" in New Jersey, designed to build wealth and economic opportunity in urban communities. The bill was introduced by Senator Angela McKnight and is currently under review by the Senate Community and Urban Affairs Committee. Specific mechanisms and funding details would depend on the bill's full text.

Why is this important

Urban wealth-building programs aim to address economic disparities in cities through targeted investment, job creation, or asset-building initiatives. Such programs can influence property values, business development, and long-term economic mobility in designated urban areas. The pilot structure allows for testing and evaluation before potential statewide expansion.

Potential points of contention

  • Funding source and amount - Whether the program uses state budget appropriations, bonds, or other mechanisms, and whether the cost is justified given other budget priorities
  • Geographic targeting and fairness - Which urban areas qualify for the pilot and whether selection criteria are equitable, or if some communities feel excluded
  • Definition of "wealth-building" - Disagreement over whether the program focuses on homeownership, small business support, workforce development, or other wealth-creation mechanisms, affecting its effectiveness and cost

Compiled from official sources — confirm details with the bill’s official record.

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