34:1B-252 Definitions relative to certain small business funding.
1. As used in sections 1 and 2 of P.L.2016, c.84 (C.34:1B-252 et seq.):
"Association" means a non-profit business advocacy association whose membership comprises small businesses in need of surety bonding.
"Authority" shall have the same meaning as provided in section 3 of P.L.1974, c.80 (C.34:1B-3).
"Fund" means the "Small Business Bonding Readiness Assistance Fund" established pursuant to section 2 of P.L.2016, c.84 (C.34:1B-253).
"Program" means the "Small Business Bonding Readiness Assistance Program" established pursuant to section 2 of P.L.2016, c.84 (C.34:1B-253).
"Small business" means a business engaged in the conduct of a trade or business in this State that qualifies as a "small business concern" within the meaning of the federal "Small Business Act," Pub.L.85-536 (15 U.S.C. s.631 et seq.) for the purpose of the small business's eligibility for performing a contract offered by the federal government or for assistance from the United States Small Business Administration. "Small business" shall also include a small business established in this State that is certified, pursuant to federal law, under the United States Small Business Administration's 8(a) Business Development Program or the HUBZone Program, or as a Small Disadvantaged Business, or as a Section 3 business concern by the United States Department of Housing and Urban Development.
L.2016, c.84, s.1.
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