New Jersey Senate Bill S72

New Jersey 2022-2023 Regular Session

• Introduced: 1/11/22
• Refer: 1/11/22

Caption

Provides that disability-owned businesses be included in certain businesses development programs, direct loan programs, and certification processes; requires Chief Diversity Officer compile information on awarding of State contracts to disability-owned businesses.

Impact

The proposed legislation will modify existing laws to ensure that disability-owned businesses are recognized alongside other categories of disadvantaged business groups such as minority and women-owned businesses. This action will grant them access to state funding opportunities managed through entities like the New Jersey Economic Development Authority, especially benefiting those unable to secure funds from conventional sources. The bill also establishes a framework for systematic monitoring and reporting by the Chief Diversity Officer to track the value of contracts awarded to these businesses.

Summary

Senate Bill S72 aims to enhance the inclusion of disability-owned businesses in various state-related economic development programs. It mandates that these businesses be considered for business development programs, direct loan programs, and certification processes, thus actively promoting their participation in state contracts and programs. The bill seeks to create a more equitable environment for business opportunities, particularly in areas of economic support where minority-owned and women-owned businesses are already acknowledged.

Contention

Although the intention is to bolster economic parity, there could be concerns regarding the implementation of this bill. Critics might point out potential challenges in distinguishing and certifying disability-owned businesses appropriately and ensuring consistent enforcement across state agencies. Moreover, ensuring that the integration of these businesses does not inadvertently create competition against established minority and women-owned businesses could also raise discussions within legislative hearings. Nevertheless, supporters argue that this initiative is crucial in advancing economic opportunities for individuals with disabilities, thereby fostering inclusivity in the state’s business landscape.