New Jersey S 3592: Prohibits certain utilities and authorities from increasing rates and assessing late or restoration fees or charges during and within 180 days after major public health emergency.

Bill Text

S3592 

SENATE, No. 3592 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

INTRODUCED FEBRUARY 19, 2026

Sponsored by:

Senator� JAMES BEACH

District 6 (Burlington and Camden)

SYNOPSIS

���� Creates grant program for business accelerator and 
incubator networks; transfers $1 million in societal benefits charge revenues 
to EDA to administer program. 

CURRENT VERSION OF TEXT 

���� As introduced.

�� 

An Act 
establishing a grant program for business accelerator and incubator networks, 
supplementing 
P.L.1974, c.80 (C.34:1B-1 et seq.), and amending 
P.L.1999, c.23.

���� Be It 
Enacted by the Senate and General Assembly of 
the State of New Jersey:

���� 1.��� (New section) As used in 
sections 1 through 4 of 
P.L. , c. (C. ) (pending 
before the Legislature as this bill):

���� �Advanced computing,� 
�advanced materials,� �information technology,� and �life sciences� shall have 
the same meaning as provided in section 2 of P.L.1997, c.349 (C.54:10A-5.29).

���� �Advanced technology center� 
means programs or departments at the State�s public and private institutions of 
higher education which are provided financial support from those institutions 
of higher education to promote innovative technology research and are 
established pursuant to law, including, but not limited to, P.L.1985, c.102 
(C.52:9X-1 et seq.), P.L.1985, c.103 (C.18A:64J-1 et seq.), P.L.1985, c.104 
(C.18A:64J-8 et seq.), P.L.1985, c.105 (C.18A:64J-15 et seq.), and P.L.1985, 
c.106 (C.18A:64J-22 et seq.).

���� �Angel investment� means the 
non-refundable transfer of cash to an incubator business by an established 
business that is not a related person of the incubator business, the transfer 
of which is in connection with either:

���� a.���� a transaction in 
exchange for stock, interests in partnerships or joint ventures, exclusive or 
non-exclusive licenses, rights to use technology, marketing rights, warrants, 
options, or any items similar to those included herein, including but not 
limited to options or rights to acquire any of the items included herein; or

���� b.��� a purchase, production, 
or research agreement.

���� �Authority� means the New 
Jersey Economic Development Authority established by section 4 of P.L.1974, 
c.80 (C.34:1B-4).

���� �Big data� shall have the same 
meaning as provided in section 1 of P.L.2014, c.33 (C.52:17C-3.4).

���� �Biotechnology,� 
�environmental technology,� �electronic device technology,� and �medical device 
technology,� shall have the same meaning as provided in section 2 of P.L.1996, 
c.26 (C.34:1B-125).

���� �Business accelerator or 
incubator� means an individual or network of business development facilities, 
consisting of the provision of low-cost space and technical assistance, for 
short-term occupancy, to an incubator business employing selected technologies 
congruent with the strengths of the State�s public and private institutions of 
higher education.� A �business accelerator or

incubator� may include, but not be 
limited to, an advanced technology center or a technology extension service.

���� �Grant program� means the 
�Business Accelerator and Incubator Network Grant Program� established pursuant 
to section 2 of P.L. , c.��� (C.������� ) (pending 
before the Legislature as this bill).

���� �Incubator business� means a 
corporation, partnership, limited liability company, or sole proprietorship 
that is supported by private sources of capital, including, but limited to, 
private equity, angel investment, or venture capital that:

���� a.���� is in the formative 
stage of development;

���� b.��� is engaged in the 
design, development, and introduction of new biotechnology, information 
technology, re-manufacturing, advanced materials, processing engineering or 
electronic device technology products, or innovative manufacturing processes; 
and

���� c.���� meets any other 
requirements for an incubator business as the authority shall develop.

���� �Support services� means the 
provision of publicly or privately-supported, low-cost, short-term occupancy, 
rental space and technology extension services wherein financial and other 
types of business or technical assistance is provided to an incubator business 
by a business accelerator or incubator.

���� �Technology extension service� 
means a program to accelerate the application and transfer of technological 
innovation by the State's public and private institutions of higher education 
to an incubator business, specifically to work with the State's incubator 
businesses to adapt these innovations to the requirements of individual 
business operations.

���� 2.��� (New section)��� a.�� The 
authority shall establish and administer the �Business Accelerator and 
Incubator Network Grant Program� for the purpose of awarding grants to a 
business accelerator or incubator that provides support to incubator businesses 
that are located within a business accelerator or incubator in this State.

���� �b.�� Grants may be made to