SENATE COMMERCE COMMITTEE
STATEMENT TO
SENATE, No. 3460
with committee amendments
STATE OF NEW JERSEY
DATED: JANUARY 26, 2023
The Senate Commerce Committee reports favorably and with
committee amendments Senate Bill No. 3460.
As amended, this bill authorizes the Department of the Treasury to
certify businesses owned by lesbian, gay, bisexual, transgender, queer,
or other persons who do not identify as heterosexual or cisgender in
the same way that the Department provides for the certification of
minority and women’s businesses. This bill codifies the program
established by Governor Murphy in Executive Order No. 295 (2022)
into law.
New Jersey’s LGBTQ+ residents are vital participants in
economic, civic, and social life in the State. Businesses owned in
whole or in part by LGBTQ+ individuals touch all parts of the State’s
economy, providing vital goods and services to New Jerseyans and
visitors. Enabling the certification of business entities owned by
members of underrepresented communities contributes to the success
and recognition of such businesses and helps such businesses thrive.
The Division of Revenue in the Department of the Treasury already
provides the opportunity for minority owned, women owned, veteran
owned, and disabled-veteran owned businesses to apply for
certification as such, but no such mechanism existed in New Jersey for
LGBTQ+ businesses prior to E.O. 295. This bill permanently
remedies that lack of opportunity, affirms that LGBTQ+ business
owners are welcome and encouraged to conduct business in New
Jersey, and enables such businesses to proudly announce that they are
recognized by the State as an LGBTQ+ business enterprise.
COMMITTEE AMENDMENTS :
The committee amended the bill to make certain technical
corrections.