Establishes position of Minority Depository Institution Coordinator in EDA.

This bill (A840) creates a new position within New Jersey's Economic Development Authority (EDA) called the Minority Depository Institution Coordinator. The coordinator will work with the EDA board and the state's Chief Diversity Officer to identify and remove administrative barriers preventing minority-owned community banks from accessing EDA loan and bonding programs, including the Small Business Bonding Readiness Assistance Program. The EDA must submit a report to the legislature within 120 days of the bill's enactment detailing the coordinator's actions. The bill directly affects minority depository institutions - defined as banks where 51%+ of voting stock is owned by minorities or a majority of the board is minority serving a minority community.