ASSEMBLY SCIENCE, INNOVATION AND TECHNOLOGY COMMITTEE

STATEMENT TO

ASSEMBLY, No. 5592

with committee amendments

STATE OF NEW JERSEY

DATED:  MAY 12, 2021

      The Assembly Science, Innovation and Technology Committee reports favorably and with committee amendments Assembly Bill No. 5592.

      As amended and reported, this bill amends the existing duties of the New Jersey Commission on Science, Innovation and Technology to include a duty to collaborate with technology transfer professionals at public and private institutions of higher education to assist in transferring technology and research knowledge to the private sector, with an emphasis on start-ups, for the purpose of further development and commercialization, which may include, but not be limited to, organizing events to showcase early-stage technologies and research.

COMMITTEE AMENDMENTS:

      The committee amended the bill to change the term “academic institutions” to “public and private institutions of higher education” and term “public and private research institutions of higher education” to “public and private institutions of higher education.”