Establishes "Rural Business Development Program" in EDA; appropriates $35 million to EDA from federal funds.

This bill establishes New Jersey's "Rural Business Development Program" through the Economic Development Authority (EDA), providing $35 million in federal pandemic relief funds to support rural small businesses. The program offers grants to qualifying rural businesses (defined as small farms or food systems in rural census tracts) for retaining or creating local jobs. The EDA must create a revolving fund with the $35 million, set application procedures, and require grantees to report quarterly on how funds were used for job creation. It directly affects rural small businesses meeting specific sustainability and location criteria within New Jersey.