TO: Members of the Senate Budget and Appropriations Committee

FROM: Hilary Chebra, Manager, Government Affairs, CCSNJ

RE: S-3144/S-1534/A-998/A-2349  

The Chamber of Commerce Southern New Jersey (CCSNJ) would like to voice our support for S-3144/S-1534/A-998/A-2349 (Ruiz/Beach/Singleton/Downey/Houghtaling/Moen) known as the "New Jersey Social Innovation Act".

As written, this bill establishes a five-year social innovation loan pilot program to encourage private investment in treatment and prevention services to reduce public expenditures related to those services. Under the bill, the New Jersey Economic Development Authority NJ(EDA) is to establish a pilot program to guarantee loan agreements among lenders, eligible nonprofit and for-profit organizations, and public sector entities. These entities would be permitted to use the funds to provide healthcare-related social programs in New Jersey

The pandemic led to a negative impact on the mental and physical health of many New Jerseyians. Social isolation exacerbated many mental health and addiction issues and made seeking treatment services more difficult for many. According to the New Jersey Department of Law and Public Safety, approximately 3,000 people have died of suspected drug related deaths, and for the first time the United States surpassed 100,000 overdose deaths.

This bill is an example of a public-private partnerships that would not only benefit public heath by provide financing to expand needed services, but also generate saving by the long-term positive outcomes of the services provided. It will also allow these entities to expand their ability to provide assistance and grant more access to those seeking care.

For these reasons, the CCSNJ urges you to support 3144/S-1534/A-998/A-2349 (Ruiz/ Beach/ Singleton/ Downey/Houghtaling/Moen).