"Department of Commerce and Innovation Act"; establishes Department of Commerce and Innovation as principal department in Executive Branch of State government; appropriates $1 million.

This bill establishes the Department of Commerce and Innovation as a centralized agency within New Jersey's Executive Branch to coordinate business, economic development, and innovation efforts. It consolidates fragmented responsibilities currently spread across multiple departments (like the Department of State and Economic Development Authority) into one agency, aiming to streamline business assistance and improve state competitiveness. The department will be led by a commissioner appointed by the governor, with a $1 million initial appropriation for operations. This directly affects businesses seeking state support and state agencies whose economic development functions will now report to this new department.