"Department of Commerce and Innovation Act"; establishes Department of Commerce and Innovation as principal department in Executive Branch of State government; appropriates $1 million.

S 1626 establishes the Department of Commerce and Innovation as a new principal department within New Jersey's Executive Branch to centralize and coordinate state economic development efforts. The bill directly affects state government operations by consolidating scattered business assistance programs currently managed across multiple agencies (like the Department of State and Economic Development Authority) into one department. Key provisions include creating a Commissioner appointed by the Governor (with Senate approval), centralizing functions like business support and innovation policy, and appropriating $1 million for the department's initial operations. This aims to streamline services for businesses seeking state assistance and improve New Jersey's competitiveness in business and innovation.