New Jersey legislation · 2026-2027 Regular Session
New Jersey A5016: Employee ownership-establish program in EDA to encourage awareness
Status: Signed into law, September 4, 2026
Establishes program in EDA to encourage employee ownership awareness and provide funding and advisory support.
What the bill says
An Act concerning the encouragement of employee ownership models and supplementing P.L.1974, c.80 (C.34:1B-1 et seq.).
From the amended text, June 24, 2026:
An Act concerning the encouragement of employee ownership models and supplementing P.L.1974, c.80 (C.34:1B-1 et seq.). Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. As used in P.L. , c. (C. ) (pending before the Legislature as this bill): "Authority" means the New Jersey Economic Development Authority established by section 4 of P.L.1974, c.80 (C.34:1B-4). 1["Director" means the Director of Employee Ownership designated pursuant to section 5 of P.L. , c. (C. ) (pending before the Legislature as this bill).]1 "Eligible business" means any business entity that: is currently located in New Jersey, as determined by the authority; has at least 20 full-time employees at the time of application approval; is in substantial good standing with New Jersey agencies, including the Department of Labor and Workforce Development, the Department of Environmental Protection, and the Department of the Treasury; and meets any other additional criteria that the authority deems appropriate. "Eligible contractor" means a contractor approved by the authority, pursuant to section 4 of P.L. , c. (C. ) (pending before the Legislature as this bill), to provide employee ownership feasibility study services for eligible businesses through the program. "Employee ownership feasibility study services" means an in-depth, written assessment of an eligible businesss potential and viable outcomes in transitioning to an employee ownership …
Sponsors
- Lisa Swain (D, 38) · primary sponsor
- Roy Freiman (D, 16) · primary sponsor
- Al Barlas (R, 40) · primary sponsor
- Andrew Zwicker (D, 16) · primary sponsor
- Shirley K. Turner (D, 15) · primary sponsor
- Katie Brennan (D, 32)
- Gerry Scharfenberger (R, 13)
- Larry Wainstein (D, 33)
- Britnee N. Timberlake (D, 34)
- Angela V. McKnight (D, 31)
Latest actions
- : APP P.L.2026, c.83.
- : PA PBH (62-15-0)
- : R/A 2RAC
- : PS (36-4)
- : SUB FOR S4218 (1R)
- : REP/SCA 2RS
- : R/S REF SBA
- : PA (64-14-1)
- : REP 2RA
- : TRANS AAP
Votes
- CONCUR IN SA - Employee ownership-establish program in EDA to encourage awareness (June 30, 2026): 62 yea, 15 nay, passed
- 3RDG FINAL PASSAGE - Employee ownership-establish program in EDA to encourage awareness (June 30, 2026): 36 yea, 4 nay, passed
- Senate Budget and Appropriations Committee: Reported with committee amendments (Sca) (June 24, 2026): 9 yea, 2 nay, passed
- 3RDG FINAL PASSAGE - Employee ownership-establish program in EDA to encourage awareness (June 11, 2026): 64 yea, 14 nay, passed
- Assembly Appropriations Committee: Reported favorably (June 8, 2026): 11 yea, 4 nay, passed
- Assembly Commerce and Economic Development Committee: Reported favorably (June 4, 2026): 5 yea, 2 nay, passed
Subjects: ECONOMIC DEVELOPMENT - INTERNATIONAL, STATE AND REGIONAL
Common questions
- What is A5016?
- A5016 is a bill in the New Jersey Legislature (2026-2027 Regular Session): Employee ownership-establish program in EDA to encourage awareness.
- What does A5016 do?
- In its own words: An Act concerning the encouragement of employee ownership models and supplementing P.L.1974, c.80 (C.34:1B-1 et seq.).
- What is the status of A5016?
- Signed into law as of September 4, 2026. Latest action: APP P.L.2026, c.83. (September 4, 2026).
- Who sponsored A5016?
- Lisa Swain (D, 38), with 9 co-sponsors.
- Where is the official record for A5016?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/A5016
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.