Establishes certain requirements for award of contracts to service-disabled veterans for certain projects funded by NJ Infrastructure Bank.
Impact
If enacted, S2576 will significantly impact how contracts are awarded for state-funded projects, enhancing opportunities for service-disabled veterans in competitive bidding processes. The bill aligns with the federal 'Small Business Act,' therefore streamlining compliance for local governments and contractors who have to meet similar goals for contract allocations. This structural change aims to foster inclusivity and provide substantial economic opportunities for service-disabled veterans, ensuring their participation in local economic development activities.
Summary
Senate Bill 2576 seeks to amend the existing statutes regarding the awarding of contracts related to infrastructure projects funded by the New Jersey Infrastructure Bank (NJIB). This bill specifically includes provisions to ensure that service-disabled veterans are recognized in the contractor selection process. Under the new stipulations, local government units receiving financial assistance from the NJIB are now required to allocate at least 10 percent of the value of any contract for construction, materials, or services to small business concerns owned and controlled by service-disabled veterans, alongside those owned by socially and economically disadvantaged individuals.
Contention
While the bill has been reported favorably by the Senate Environment and Energy Committee, discussions around it have highlighted potential points of contention. Critics may argue whether the affirmative action provisions are sufficient or if they could hamper the efficiency of contract awards. Moreover, ensuring compliance with both state and federal standards is paramount, and there may be concerns over how these thresholds could affect the overall contractor pool and project timelines.
Requires local government units to provide opportunities for military- or veteran- owned businesses to supply materials and services for projects receiving funding from NJ Infrastructure Bank.
Requires local government units to provide opportunities for military- or veteran- owned businesses to supply materials and services for projects receiving funding from NJ Infrastructure Bank.
Requires local government units to provide opportunities for military- or veteran- owned businesses to supply materials and services for projects receiving funding from NJ Infrastructure Bank.
Establishes Community Hazard Assistance Mitigation Program in, and authorizes issuance of bonds by, NJ Infrastructure Bank to fund certain hazard mitigation and resilience projects; makes various changes to NJ Infrastructure Bank's enabling act; appropriates $500,000.
Establishes Community Hazard Assistance Mitigation Program in, and authorizes issuance of bonds by, NJ Infrastructure Bank to fund certain hazard mitigation and resilience projects; makes various changes to NJ Infrastructure Bank's enabling act; appropriates $500,000.
Establishes "Energy Infrastructure Public-Private Partnerships Program"; amends law concerning NJ infrastructure Bank; and authorizes certain energy contracts under "Public School Contracts Law" and "Local Public Contracts Law" up to 25 years.
Establishes "Energy Infrastructure Public-Private Partnerships Program"; amends law concerning NJ infrastructure Bank; and authorizes certain energy contracts under "Public School Contracts Law" and "Local Public Contracts Law" up to 25 years.
Requires local government units to provide opportunities for military- or veteran- owned businesses to supply materials and services for projects receiving funding from NJ Infrastructure Bank.
Requires local government units to provide opportunities for military- or veteran- owned businesses to supply materials and services for projects receiving funding from NJ Infrastructure Bank.
Requires local government units to provide opportunities for military- or veteran- owned businesses to supply materials and services for projects receiving funding from NJ Infrastructure Bank.
In veteran-owned small businesses, further providing for definitions, for regulations, for participation goal, for duties of Department of General Services and for bonding and progress payments, providing for request for full or partial waiver and good faith efforts, further providing for reports and providing for disparity study; in small and disadvantaged businesses, further providing for policy and for definitions, providing for Small and Midsize Diverse Business Program and for nonapplicability, further providing for regulations and for duties of department, providing for request for full or partial waiver and good faith efforts, further providing for bonding and progress payments and for report to General Assembly and providing for aspirational target, for disparity study and for program review and expiration; providing for Program for Construction and Design Professional Services; and making editorial changes.