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Bill > S1103


NJ S1103

NJ S1103
Authorizes local contracting units to establish joint venture and set-aside programs.


summary

Introduced
01/09/2024
In Committee
01/09/2024
Crossed Over
Passed
Dead
01/12/2026

Introduced Session

2024-2025 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 would authorize local contracting units to establish women's, minority, and veteran business enterprise joint venture and set-aside programs. The bill would allow local contracting units to set aside a percentage of procurement dollars to be awarded to joint ventures that include qualified women's, minority, or veteran-owned businesses. This joint venture approach is intended to help traditionally disadvantaged businesses partner with more established businesses to better compete in the public bidding process.

Committee Categories

Housing and Urban Affairs

Sponsors (1)

Last Action

Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 01/09/2024)

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