New Jersey § 34:1b-352

§ 34:1b-352.

a. As part of the Main Street Recovery Finance Program, the authority shall provide

grants to eligible small businesses from the Main Street Recovery Fund, subject to

appropriation or the availability of federal funds , provided that the authority shall undertake a disparity study of the relative availability of capital

and related banking resources for small businesses and microbusiness that are women-

and minority-owned business enterprises in this State and the authority's historic

support of such businesses, and, as recommended by the study, shall establish policies,

practices, protocols, and, if appropriate, minimum percentages of the fund to be set

aside for eligible small businesses and microbusinesses that are minority-owned business

enterprises or women-owned business enterprises . Grants awarded pursuant to the program may be used by an eligible small business

for capital improvements or to cover operating expenses. The authority may dedicate up to 10 percent of the amount appropriated for the purposes of this section to provide technical assistance

grants to for-profit or non-profit entities that are experienced in providing technical assistance

services or to eligible microbusinesses to help such eligible microbusinesses in applying for the grants authorized under

this section . b. (1) A small business shall be eligible to receive a grant pursuant to this section

if the small business demonstrates to the authority that: (a) the small business has complied with all requirements for filing tax and information

returns and for paying or remitting required State taxes and fees by submitting, as

a part of the application, a tax clearance certificate, as described in section 1

of P.L.2007, c. 101 ( C.54:50-39 ); and (b) each worker employed by the small business shall be paid not less than $15 per

hour or 120 percent of the minimum wage fixed under subsection a. of section 5 of

P.L.1966, c. 113 ( C.34:11-56a4 ), whichever is higher, except an employee who customarily and regularly receives

gratuities or tips shall be paid not less than 120 percent of the minimum wage. (2) In addition to the requirements of paragraph (1) of this subsection, a small business

shall be eligible to receive a grant pursuant to this subsection for capital improvements

only if the small business demonstrates to the authority at the time of application

that: (a) any capital improvement in excess of $50,000 and undertaken with grant funds shall comply with standards established by the authority

in accordance with the green building manual prepared by the Commissioner of Community

Affairs pursuant to section 1 of P.L.2007, c. 132 ( C.52:27D-130.6 ), regarding the use of renewable energy, energy-efficient technology, and non-renewable

resources to reduce environmental degradation and encourage long-term cost reduction;

and (b) each worker employed to perform construction work in connection with a capital

improvement undertaken with grant funds in excess of $50,000 shall be paid not less

than the prevailing wage rate for the worker's craft or trade, as determined by the

Commissioner of Labor and Workforce Development pursuant to P.L.1963, c. 150 ( C.34:11-56.25 et seq. ). c. An eligible small business seeking a grant pursuant to this section shall submit an

application for approval to the authority in the form and manner prescribed in regulations

adopted by the authority pursuant to the provisions of the “Administrative Procedure

Act,” P.L.1968, c. 410 ( C.52:14B-1 et seq. ). Before the board may consider an eligible small business's application for grants, the authority shall confirm with the Department of Labor and Workforce Development, the Department of Environmental

Protection, and the Department of the Treasury whether the eligible small business is in substantial good standing with the respective

department, or has entered into an agreement with the respective department that includes

a practical corrective action plan for the eligible small business. The authority may also contract with an independent third party to perform a background

check on the eligible small business. The eligible small business, or an authorized agent thereof, shall certify under

the penalty of perjury that any information provided in the application required pursuant

to this subsection is true. d. Following approval of an application , but before the disbursement of grant funds, the authority shall require an eligible

small business to enter into a grant agreement. The grant agreement shall specify the amount of the grant to be awarded the eligible

small business and the frequency of payments. If the authority determines that an eligible small business made a material misrepresentation

on the eligible small business's grant application or the eligible small business

has failed to comply with any requirement set forth in subsection b. of this section, then the small business shall return to the authority

any grant awarded pursuant to this section.