Establishes New Jersey Innovation Authority.
What changed between versions
The appointment structure for the nine public board members was formalized: five are appointed directly by the Governor, two by the Governor upon recommendation of the Speaker of the General Assembly, and two by the Governor upon recommendation of the President of the Senate. The first reprint simply stated all nine were 'appointed by the Governor' without specifying the legislative recommendation roles.
Initial staggered terms for directly appointed public members changed from three serving five years, three serving four years, and three serving three years (3/3/3) to two serving five years, two serving four years, and one serving three years (2/2/1). This aligns the stagger with the reduced number of Governor-directly-appointed members.
The Chief Innovation Officer's authority over hired personnel now explicitly includes determining 'services' in addition to qualifications, terms of office, duties, and compensation.