New Jersey § 34:1b-268
Full text of New Jersey New Jersey Statutes § 34:1b-268, with citation guidance and answers to common questions.
§ 34:1b-268.
a. To implement the social innovation loan pilot program, the authority shall establish
and maintain a special non-lapsing, revolving fund called the “social innovation loan
fund” which may be credited with: (1) monies appropriated by the State for the purpose of the fund; (2) monies received by the authority from any public or private donations to be used
to guarantee a loan issued pursuant to subsection f. of section 3 of P.L.2021, c. 434 ( C.34:1B-268.5 ); (3) any monies as may be available to the authority from grants or other forms of
assistance established to support health care intervention activities by the authority
or by other State or federal agencies or authorities; and (4) monies received from eligible organizations in the form of any applicable fees. b. Loan funds may be used by the authority for the following purposes: (1) guaranteeing loans issued pursuant to subsection b. of section 3 of P.L.2021, c. 434 ( C.34:1B-268.5 ); (2) reasonable and necessary expenses incurred by the authority related to the administration
of the pilot program and the study commission; and (3) administrative expenses for the provision of loan guarantees issued pursuant to
subsection b. of section 3 of P.L.2021, c. 434 ( C.34:1B-268.5 ). c. The amount of loans guaranteed by the authority pursuant to subsection b. of section
3 of P.L.2021, c. 434 ( C.34:1B-268.5 ) shall not exceed $3,000,000 per year or $15,000,000 in the aggregate over five years,
as determined by the authority. d. The authority shall not issue a loan guarantee in an amount greater than the available
and uncommitted monies in the loan fund. e. The authority may charge fees in connection with applications for participation
in the social innovation loan pilot program as it deems reasonable to cover authority
expenses in administering the pilot program and issuing loan guarantees. f. The activities required pursuant to P.L.2021, c. 434 ( C.34:1B-268.3 et seq. ) shall only be paid from monies deposited into the “social innovation loan fund,”
established pursuant to subsection a. of this section.
Frequently Asked Questions About New Jersey § 34:1b-268
What does New Jersey Statutes § 34:1b-268 cover?
Section 34:1b-268 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 34:1b-268?
A common citation format is "New Jersey Statutes § 34:1b-268" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 34:1b-268 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.