Small-business loan program clears panel

TRENTON – Two business related bills cleared the Senate Budget committee as the panel continued making quick work of many of the bipartisan slate of proposals.

S3052: This would  direct the New Jersey Economic Development Authority to establish a small-business loan program to provide low-interest loans in amounts not exceeding $250,000.

And S3054: This bill seeks to expand corporation business tax credit programs to the gross income tax. This is intended to provide gross income taxpayers with the same incentives available to corporation business taxpayers for investment and hiring, particularly sole proprietors, partnerships, and limited liability companies.

Small-business loan program clears panel