ASSEMBLY APPROPRIATIONS COMMITTEE
STATEMENT TO
ASSEMBLY COMMITTEE SUBSTITUTE FOR
ASSEMBLY, No. 3330
STATE OF NEW JERSEY
DATED: MARCH 14, 2024
The Assembly Appropriations Committee reports favorably
Assembly Bill No. 3330 ACS.
This bill requires the Department of the Treasury (“department”) to
establish a unified procedure for a business to apply for certification as
an LGBTQ+ business. Under the bill, “LGBTQ+ business” is defined
to mean:
(1) a sole proprietorship that is owned and controlled by a person
who identifies as LGBTQ+;
(2) a partnership or joint venture, in which at least 51 percent of
the ownership interest is held by individuals who identify as LGBTQ+
and the management and daily business operations are controlled by
one or more of the individuals who identify as LGBTQ+; or
(3) a corporation or other entity, the management and daily
business operations of which are controlled by one or more individuals
who identify as LGBTQ+ and of which at least 51 percent of the legal
beneficial ownership is held by one or more individuals who identify
as LGBTQ+.
The bill requires the department, among other items, to establish
criteria to be used: to determine the status of a business as an
LGBTQ+ business; to deny or revoke the certification of an LGBTQ+
business; and by a third-party challenging the qualifications of an
applicant to be certified as an LGBTQ+ business.
The bill also requires the department to establish a process for a
business to challenge the denial or revocation of an LGBTQ+
certification. The bill specifies that certain information a business
submits to the department with its application is to remain
confidential. This bill is consistent with the provisions of Executive
Order No. 295 of 2022, issued by Governor Murphy to address
LGBTQ+ business certification.
FISCAL IMPACT:
This bill was not certified as requiring a fiscal note.