"Invest in New Jersey First Act;" requires preference in awarding certain contracts for critical infrastructure projects.
Impact
If passed, A1761 would amend existing public contract law to require state departments and agencies to prioritize hiring New Jersey-based firms that employ New Jersey residents for state-funded critical infrastructure undertakings. This is a response to a recognized economic emergency in the state, wherein state leaders believe that such a measure is needed to ignite job creation and economic revival. The Department of the Treasury will play a crucial role in regulating and identifying which businesses qualify under the stipulations of the bill.
Summary
Assembly Bill A1761, known as the 'Invest in New Jersey First Act,' is designed to provide a preference for awarding certain contracts focused on critical infrastructure projects to qualified businesses located within New Jersey. These projects include transportation, sewerage, water supply, and other building projects. The intent of the bill is to stimulate the state’s economy by increasing employment during economic downturns and ensuring that state funds are utilized to support local businesses and residents.
Contention
While proponents argue that the bill is essential for economic recovery, criticisms may arise regarding the potential limitations it imposes on diversity in vendor choice and possible challenges in implementing the preference effectively. Concerns about transparency and fairness in the bidding process could also surface as stakeholders debate the implications of prioritizing local businesses over potentially more qualified or cost-effective out-of-state contractors.
Establishes "Energy Infrastructure Public-Private Partnerships Program" and related financing program in NJ Infrastructure Bank; and authorizes certain energy contracts under "Public School Contracts Law" and "Local Public Contracts Law" up to 30 years.
Establishes "Energy Infrastructure Public-Private Partnerships Program" and related financing program in NJ Infrastructure Bank; and authorizes certain energy contracts under "Public School Contracts Law" and "Local Public Contracts Law" up to 30 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.
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 public utilities and cable television companies to accommodate and relocate facilities and pay costs thereof when necessary for infrastructure projects.
Requires public utilities and cable television companies to accommodate and relocate facilities and pay costs thereof when necessary for infrastructure projects.