"State Bank of New Jersey Act."

The "State Bank of New Jersey Act" would establish a state-owned financial institution to support economic development across New Jersey. The bank would provide loans to small businesses, assist with housing and infrastructure projects, and coordinate with educational assistance programs. It would be governed by a 13-member board appointed by the Governor, with the State Treasurer serving as an ex officio member. The bank would be exempt from state taxes and fees, with all state deposits guaranteed by the state. Regular audits and oversight by the Commissioner of Banking and Insurance would ensure accountability for the institution's operations.