New Jersey S4767: Community investment projects, eligible-establish pilot program in EDA;$30M

What the bill says

An Act establishing the “Community Investment and Local Ownership Pilot Program,” supplementing Title 34 of the Revised Statutes, and making an appropriation.

From the introduced text, October 5, 2026:

An Act establishing the “Community Investment and Local Ownership Pilot Program,” supplementing Title 34 of the Revised Statutes, and making an appropriation. 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 pursuant to section 4 of P.L.1974, c.80 (C.34:1B-4). "Business entity" means a corporation, limited liability company, limited liability partnership, association, partnership, joint stock company, joint venture, mutual fund trust, or other legal form of organization, whether organized for-profit or not-for-profit. "Community development financial institution" means the same as that term is defined pursuant to section 4702 of the federal “Community Development Banking and Financial Institutions Act of 1994,” 12 U.S.C. s.4702. "Community investment project" means a local economic development project or local business investment within a pilot municipality that the authority determines would benefit from community financing and funding. A "community investment project" may include, but not be limited to: improvements to small businesses, minority-owned businesses, woman-owned businesses, and veteran-owned businesses; affordable housing projects; community revitalization projects; and other localized economic development projects that provide individual donors with an equity interest in the project. "Fund" means the "Community Investment and Local Ownership Fund" established pursuant to section 5 …

Read the full official text

Sponsors

• Benjie E. Wimberly (D, 35) · primary sponsor

Latest actions

1. October 5, 2026: INT 1RS REF SEG

Common questions

What is S4767?

S4767 is a bill in the New Jersey Legislature (2026-2027 Regular Session): Community investment projects, eligible-establish pilot program in EDA;$30M.

What does S4767 do?

In its own words: An Act establishing the “Community Investment and Local Ownership Pilot Program,” supplementing Title 34 of the Revised Statutes, and making an appropriation.

What is the status of S4767?

In committee as of October 5, 2026. Latest action: INT 1RS REF SEG (October 5, 2026).

Who sponsored S4767?

Benjie E. Wimberly (D, 35).

Where is the official record for S4767?

On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/S4767