New Jersey Senate Bill S3460

New Jersey 2022-2023 Regular Session

• Introduced: 1/12/23
• Refer: 1/12/23
• Report Pass: 1/26/23
• Refer: 1/26/23

Caption

Establishes certification program for businesses owned by LGBTQ+ persons.

Impact

The implementation of S3460 is expected to significantly impact the landscape of business ownership in the state. By creating a designated certification for LGBTQ+ businesses, the bill not only recognizes these entities but also provides a pathway for them to engage in state contracting processes. The initiative may particularly benefit small businesses within this community, offering a formal acknowledgment that could lead to increased visibility and chances of success. Furthermore, the process includes strict criteria for maintaining the certification, including annual verification of eligibility and the submission of detailed information regarding business ownership and management.

Summary

Senate Bill S3460 aims to establish a certification program specifically for businesses owned by LGBTQ+ individuals in New Jersey. This initiative is designed to enhance economic opportunities for LGBTQ+ entrepreneurs by recognizing their businesses and allowing them to access various state programs and initiatives. Under this bill, a business must be at least 51 percent owned, operated, and controlled by individuals who identify as LGBTQ+ to qualify for certification. The legislation is a part of broader efforts to promote diversity and inclusion within the business landscape of New Jersey.

Sentiment

The general sentiment around Bill S3460 appears to be supportive among LGBTQ+ advocacy groups and progressive policymakers. Proponents argue that this legislative move is a crucial step toward achieving equality and recognition for LGBTQ+ business owners, addressing systemic barriers they face in the market. However, there might be concerns regarding bureaucracy and the feasibility of complying with stringent application and verification processes, which opponents might raise as a point of contention during discussions.

Contention

Key points of contention may arise around the criteria for certification, including the definitions of control and ownership by LGBTQ+ individuals, which some may argue could be restrictive. Furthermore, debates might focus on the potential for this certification process to inadvertently exclude smaller businesses or those without the resources to navigate complex application requirements. Critics could also question whether such focused programs risk dividing the market further rather than promoting collective growth for all small businesses in New Jersey.