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Bill > A3325

NJ A3325

NJ A3325
Prohibits disqualification of certain minority-owned and women-owned businesses for certification.

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 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 would 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. The bill also requires the uniform procedure, which governs the certification of minority and women's businesses, to provide guidance for determining whether the beneficial owners of a business have created a shell company or other arrangement with the purpose or effect of evading the ownership requirements under the law.

AI Summary

This bill would modify the eligibility criteria for businesses to qualify as minority-owned or women-owned businesses under state law. It specifies that a minority-owned or women-owned business engaged in the procurement of materials and supplies would be eligible for certification even if the business is not significantly involved in the production or movement of its inventory, as long as the business places an order, takes possession, assumes ownership risk, and causes the product to be shipped to a customer. The bill also requires guidance for determining if a business has created a shell company or other arrangement to evade the ownership requirements.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Introduced, Referred to Assembly Commerce, Economic Development and Agriculture Committee (on 01/09/2024)
(2 Companion Bills)

bill text

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bill summary

Document Type Source Location
State Bill Page https://www.njleg.state.nj.us/bill-search/2024/A3325
BillText https://pub.njleg.gov/Bills/2024/A3500/3325_I1.HTM
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