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.
Impact
The implications of SB 2774 are significant as it expands the legal framework that governs public contracts, underscoring a commitment to social equity while fostering economic growth within specific demographics. By incentivizing local governments to engage military and veteran businesses in public projects, the state aims to create a more inclusive economic environment that acknowledges the contributions of those who have served in the armed forces. This legislative move reflects an effort to address historical disparities in access to contracting opportunities.
Summary
Senate Bill 2774 aims to enhance opportunities for military- or veteran-owned businesses in New Jersey by requiring local government units to establish programs that provide these businesses the chance to supply materials and services for projects funded by the New Jersey Infrastructure Bank (NJIB). This bill seeks to amend existing regulations that already mandate affirmative action for minority employment and opportunities for socially and economically disadvantaged contractors, with the addition of support for veteran-related business entities.
Contention
While the bill is primarily intended to bolster support for veterans and military families, it may encounter some contention. Critics may argue about the feasibility and effectiveness of implementing such programs, questioning whether local governments can allocate the necessary resources to ensure compliance without jeopardizing other important procurement processes. Additionally, there may be debates regarding the balance between enforcing such requirements and maintaining competitive bidding processes in public contracts.
Same As
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.
Carry Over
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.