Bill > S4231

Introduced Session

This bill establishes a price preference program for service-disabled veteran-owned businesses competing for State contracts. Under current law, certain purchases or contracts payable out of State funds are publicly advertised and competitively bid on by businesses. The State then awards the contract to the lowest bidder. This bill would establish a price preference of up to 15 percent of the amount of the contract to a qualified disabled veterans' business. If the disabled veterans' business meets the requirements of the contract solicitation and is the lowest bidder due to the preference program, a State agency will enter into a procurement contract with the disabled veterans' business. If two or more qualified disabled veterans' businesses bid on a contract utilizing the preference program, the disabled veterans' business with the lowest bid will be awarded the contract. This bill defines "qualified disabled veterans' business" to mean an independently owned and operated business that has its principal place of business in the State, and at least 51 percent of which is owned and controlled by persons who are disabled veterans. "Qualified disabled veterans' business" also means a business that has its principal place of business in this State and has been officially verified by the New Jersey Department of the Treasury or the United States Department of Veterans Affairs as a service-disabled veteran-owned business for the purposes of department contracts pursuant to State and federal law.

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Kristin Corrado (R)*,  Vin Gopal (D)*, 

Referred to Senate Budget and Appropriations Committee (on 11/18/2019)

Official Document