Establishes programs in EDA to support New Jersey-based start-up, small businesses, and medium-sized businesses adopting artificial intelligence capabilities; appropriates $175.5 million.

This bill establishes New Jersey's "AI Job Creation and Economic Development Fund Program" to provide financial support for local businesses adopting AI technology. It directly affects New Jersey-based start-ups (operating ≤7 years), small businesses (SBA-defined), and medium-sized businesses that develop AI capabilities, offering grants up to $500,000 for AI innovation hubs or low-interest loans up to $1 million for business expansion. To qualify, businesses must demonstrate AI intellectual property, a job-creation plan, and financial need for the assistance. The program appropriates $175.5 million from the state budget, with the Economic Development Authority administering the funds and requiring annual reports on job creation and loan repayments.