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Bill > A3198


NJ A3198

NJ A3198
Authorizes local contracting units to establish joint venture and set-aside programs.


summary

Introduced
03/07/2022
In Committee
03/07/2022
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

This bill would authorize local contracting units to establish women's, minority, and veteran business enterprise joint venture and set-aside programs. The "Local Public Contracts Law" has authorized local contracting units to establish minority and women's business enterprise set-aside programs since 1985, and veteran business enterprise set-aside programs since 2013, as a way to encourage the growth and competitiveness of minority, women's, and veteran businesses. This bill would amend the current local set-aside law to permit a local contracting unit to set aside a percentage of the dollar value of total procurements to be awarded as set-aside contracts to joint ventures which include one or more qualified women's, minority, or veteran business enterprises. This joint venture method, allowing traditionally disadvantaged women's, minority, and veteran-owned businesses to partner with more seasoned businesses into joint ventures, has been successfully employed in other places as a way to remove historic roadblocks that prevent disadvantaged businesses from competing in the public bidding process.

AI Summary

This bill authorizes local contracting units to establish women's, minority, and veteran business enterprise joint venture and set-aside programs. The bill amends the current local set-aside law to permit a local contracting unit to set aside a percentage of the dollar value of total procurements to be awarded as set-aside contracts to joint ventures which include one or more qualified women's, minority, or veteran business enterprises. This joint venture method is intended to remove historic roadblocks that prevent disadvantaged businesses from competing in the public bidding process by allowing them to partner with more seasoned businesses.

Committee Categories

Government Affairs

Sponsors (1)

Last Action

Introduced, Referred to Assembly State and Local Government Committee (on 03/07/2022)

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