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Bill

A 1459

Expands EDA small business loan program to include certain broadband telecommunications service providers.

2026-2027 Regular Session Introduced by Brian Bergen and 3 co-sponsors

The bill expands the EDA small business loan program to include rural broadband providers, enabling loans for service expansion in rural New Jersey.

Introduced, Referred to Assembly Telecommunications and Utilities Committee
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WeVote Research Nonpartisan
Bill Summary · A 1459

Overview

A 1459 (Session 222, New Jersey) expands the New Jersey Economic Development Authority (EDA) small business loan program to include broadband telecommunications service providers. The bill amends existing program definitions and coordination requirements, outlining how loans may be used and the role of the EDA in administering and regulating these loans, in consultation with the Board of Public Utilities (BPU) and relevant Departments.

Purpose and intent

  • Extend the EDA’s small business loan program to explicitly cover broadband telecommunications service providers that offer high-speed service in rural areas.
  • Promote expansion of broadband access in rural New Jersey by providing financing to eligible broadband providers, alongside existing categories such as farming operations and value-added dairy producers.

Key provisions and changes

  • Definitions added/clarified:
    • “Broadband telecommunications service”: high-speed (at least 25 Mbps download, 3 Mbps upload) wireline or wireless service enabling voice, data, graphics, or video over the Internet.
    • “Broadband telecommunications service provider”: entities certified by the BPU to offer broadband service in rural areas, including rural electric cooperatives.
    • “Rural area”: municipalities with population 30,000 or less and population density under 4,000 per square mile, per latest federal census.
  • Eligibility and program scope:
    • The EDA will maintain/administer a small business loan program to provide loans to eligible small businesses, now expressly including broadband service providers.
    • The EDA will consult with the Department of Agriculture on farming-related aspects and with the BPU on broadband-related aspects of the program.
  • Uses of loan funds:
    • For general eligible small businesses: loans may be used for capital purchases, employee training, and salaries for new positions (subject to EDA rules).
    • For eligible farming operations: loans limited to farm equipment purchases, with equipment used by all entities in an eligible farming operation.
  • Applications and joint participation:
    • Two or more farming entities seeking to participate must submit a joint application.
    • Any loan to an eligible farming operation must ensure each entity meets requirements and will use equipment as intended.
  • Loan terms and lender rights:
    • Loans will be made under a loan agreement, with interest rates and terms determined by the EDA.
    • The EDA may require audited financial statements from borrowers, including multi-entity disclosures for farming operations.
    • The EDA may set default terms and other conditions via regulations or loan agreements.
    • Consideration of job creation: the EDA may weigh a borrower’s commitment to increasing full-time employment in New Jersey when evaluating loan applications.
  • Rules and regulations:
    • The EDA will adopt rules/regulations under the Administrative Procedure Act to implement the bill, in consultation with the BPU for broadband-related provisions and with the Department for farming-related provisions.
  • Effective date:
    • The act takes effect immediately upon enactment.

Who would be affected

  • Broadband telecommunications service providers serving rural areas in New Jersey (including rural electric cooperatives) seeking financing.
  • Small businesses in general eligible under the EDA program, with broadened eligibility to include broadband providers.
  • Rural communities relying on improved broadband access.
  • The EDA, BPU, and Department of Agriculture coordinating on program administration and compliance.

Procedural and timeline aspects

  • Committee action: Introduced January 13, 2026; referred to Assembly Telecommunications and Utilities Committee.
  • Implementation: Requires rulemaking and regulations by the EDA, with timely coordination with BPU and relevant departments; takes effect immediately upon enactment.

Overall, the bill formalizes and expands loan program eligibility to support rural broadband expansion, outlining definitions, administration, underwriting considerations, and inter-agency coordination.

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

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