"State Bank of New Jersey Act."

S 2310 would create a state-owned "State Bank of New Jersey" to provide loans and financial services for small businesses, housing, infrastructure, and community development. The bank would use state funds deposited by the Treasurer (including state moneys and public source deposits) and operate similarly to private banks, with restrictions on lending to board members or their associates. It would be governed by a 13-member board appointed by the Governor, including banking experts and consumer advocates. This legislation directly affects New Jersey residents and businesses seeking affordable financing for economic development and housing needs.