Establishes the "Neighborhood Scholar Revitalization Pilot Program."
This bill establishes the "Neighborhood Scholar Revitalization Pilot Program" in four New Jersey cities: Camden, Trenton, Jersey City, and Paterson. It offers college graduates with at least $7,000 in student loan debt a $7,000 reimbursement toward their loans after committing to live in designated low-income neighborhoods for 24 months. Businesses in participating enterprise zones can earn tax credits equal to their contributions to the program's fund, which is partially funded by transferring money from municipal enterprise zone assistance accounts. The program limits participation to 200 graduates per city, with a 3-year evaluation required to determine potential expansion.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Jan 9, 2024
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Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Community Development and Women's Affairs Committee
lower
2 primary · 5 co-sponsors
Sponsors
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