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Bill > A723


NJ A723

NJ A723
Prohibits disqualification of certain minority-owned and women-owned businesses for certification.


summary

Introduced
01/14/2020
In Committee
06/30/2020
Crossed Over
06/29/2020
Passed
Dead
01/11/2022

Introduced Session

2020-2021 Regular Session

Bill Summary

This bill would modify the eligibility criteria for a business to qualify as a minority-owned or women-owned business under State law. The bill specifies that an otherwise eligible minority-owned or women-owned business engaged in the procurement of materials and supplies will be eligible for certification although the business is not involved in the production or movement of inventory on hand, as long as the business: (1) places an order for a product with a distributor or manufacturer; (2) takes possession of the materials or supplies in the order by payment; (3) assumes the risk of ownership of the materials or supplies; and (4) causes the product, materials, or supplies to be shipped to a customer.

AI Summary

This bill would modify the eligibility criteria for a business to qualify as a minority-owned or women-owned business under New Jersey state law. The bill specifies that an otherwise eligible minority-owned or women-owned business engaged in the procurement of materials and supplies will be eligible for certification, even if the business is not directly involved in the production or physical movement of the inventory, as long as the business places an order, takes possession, assumes the risk of ownership, and causes the product to be shipped to a customer. The bill also provides guidance for determining whether any ownership structures were created to evade the ownership requirements for certification.

Committee Categories

Business and Industry, Government Affairs

Sponsors (19)

Last Action

Received in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 06/30/2020)

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