Bill > A4173

Introduced Session

The bill creates certain assistance and set-aside programs for businesses owned by lesbian, gay, bisexual, or transgender, or LGBT, persons, by persons with a disability, and by veterans. The bill designates these businesses as eligible businesses for the purpose of qualifying for the programs or assistance established by the bill when the businesses have their principal place of business in this State; are independently owned and operated; are qualified pursuant to law and regulation as a prospective bidder; and are certified by the Division of Revenue, or an appropriate third-party agency, as: (1) a sole proprietorship owned and controlled by a lesbian, gay, bisexual, or transgender person, a person with a disability, or a veteran; (2) a partnership or joint venture owned and controlled by lesbian, gay, bisexual, or transgender persons, persons with a disability, or veterans, in which at least 51 percent of the ownership is held by one or more such persons, and the management and daily business operations of which are controlled by one or more such persons who own it; or (3) a corporation or other entity whose management and daily business operations are controlled by one or more lesbian, gay, bisexual, or transgender persons, persons with a disability, or veterans who own it, and which is at least 51 percent owned such persons, or, if stock is issued, at least 51 percent of the stock is owned by one or more such persons. A third-party agency in the bill is a nationally recognized organization that adheres to generally accepted standards for supplier diversity certification, and includes the National Gay and Lesbian Chamber of Commerce for the certification of LGBT business enterprises and the United States Business Leadership Network for the certification of disability-owned business enterprises. A veteran must present to the Adjutant General evidence of a record of service and receive a determination before the date for the submission of bids. The bill permits the New Jersey Economic Development Authority (EDA) to waive bonding requirements to facilitate the participation of an eligible business on projects financed by the authority if the business has been rejected by two surety companies. The EDA may also provide assistance to eligible businesses that are unable to secure bonding for other projects that are not financed by the EDA. The bill permits the Division of Revenue in the Department of the Treasury to: establish loan programs for eligible businesses, compile lists of qualified professionals, including LGBT persons, persons with a disability, and veterans, in specific areas of expertise, to be disseminated to eligible businesses and to be used in making referrals, provided those professionals submit written consent to be included the lists; coordinate managerial and technical assistance; establish an internship program for undergraduate and graduate students in business administration and related fields; and provide assistance and advice to eligible businesses in areas including, but not limited to, advertising, marketing, sales, distribution, government contract bidding and procurement, obtaining legal counsel, financial analysis and accounting, insurance, commercial loans, and professional development. The bill requires the division to certify and verify that a business is an eligible business, either directly or through a third-party agency. The division is required to approve third-party agencies to perform the certifications, which it has the authority to accept in lieu of performing its own certification. The division may also develop a streamlined process for verification of eligible business. The process for certification and verification is to be clear, concise, and streamlined. The director is to submit an annual report to the Governor and Legislature concerning these processes. The bill permits counties and municipalities to establish a pilot program that provides technical or certification assistance to eligible businesses, and permits those counties and municipalities to apply to the EDA for a financial assistance grant to pay for up to 50 percent of the cost of a pilot program. The bill also permits counties and municipalities, as well as boards of education, to establish set-aside programs for eligible businesses. The goals set for the programs could be met by the use of subcontracting. The bill establishes requirements related to how local governments and boards of education could administer those programs, including advertising and bidding processes, and establishes penalties that local governments and boards of education could assess against businesses that are classified as eligible businesses based on false information. Local governments and boards of education with these programs are to publish their attainments of the set-aside goals in at least one newspaper in the county, municipality, or school district, as appropriate, by March 1 of each year.

Committee Categories

Annette Quijano (D)*, 

Introduced, Referred to Assembly Commerce, Economic Development and Agriculture Committee (on 04/11/2024)

Official Document