New Jersey Assembly Bill A4724

New Jersey 2024-2025 Regular Session

• Introduced: 9/12/24
• Refer: 9/12/24
• Refer: 9/23/24

Caption

Establishes sheltered market program for certain business enterprises seeking State contracts.

Impact

Should this bill be enacted, it will amend Title 52 of the Revised Statutes and mandate state agencies to publish designated contracts on their websites, thereby increasing transparency and accessibility for potential bidders within the specified categories. Additionally, state agencies are required to conduct outreach efforts to inform qualified enterprises about available contracts and provide workshops to facilitate participation in the bidding process. The expected outcome is an increased percentage of state contracts awarded to underrepresented business sectors, fostering economic growth and equity.

Summary

Assembly Bill 4724 aims to establish a sheltered market program that facilitates access to certain state contracts for qualified business enterprises, particularly those certified as minority-owned, women-owned, small businesses, economically disadvantaged, LGBTQ+-owned, and veteran-owned. The program is intended to promote diversity in state contracting by designating contracts for these groups, thus addressing historical underutilization. The Chief Diversity Officer, under the Department of the Treasury, will oversee the program and establish criteria for identifying contracts suitable for this initiative, ensuring a fair distribution of state contracts.

Contention

While the overarching goal of AB 4724 is to enhance diversity in state contracting, opinions may vary regarding its implementation. Proponents argue that the bill is a necessary step towards rectifying inequalities in state procurement processes and ensuring that historically marginalized groups have opportunities within state contracts. Conversely, critics may raise concerns about the efficacy of the program or argue that it could introduce complexities into the state procurement process, potentially questioning the viability of setting aside contracts based on categories rather than merit.