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

This New Jersey bill establishes the "Rural Business Development Program" administered by the Economic Development Authority (EDA), providing grants to rural small businesses that operate sustainable farms and food systems in designated rural census tracts. It appropriates $35 million from federal Coronavirus Relief Funds to create a dedicated "Rural Business Development Fund" for grants aimed at retaining or creating local jobs. Businesses receiving grants must report every six months on how funds were used to support employment. The program requires the EDA to set application rules, funding criteria, and reporting requirements for participating businesses.