Establishes certification program for disabled-owned businesses.
Impact
If passed, S429 would amend the existing business certification framework in New Jersey, thus providing a new pathway for disabled-owned businesses to gain visibility and legitimacy. The legislation will require that at least 51% of ownership be held by individuals with disabilities, ensuring that these businesses genuinely represent the community's interests. The inclusion of these businesses in the Selective Assistance Vendor Information (SAVI) database would further legitimize and promote their role in the state's economy. This certification could lead to increased contracting opportunities with state agencies, thereby fostering economic growth in an often-overlooked demographic.
Summary
Bill S429 aims to establish a certification program in New Jersey for businesses owned and controlled by persons with disabilities. This initiative recognizes the vital role that disabled entrepreneurs play in providing goods and services across the state, affirming their participation in the economic, civic, and social spheres. The proposed certification will allow businesses to register under the same auspices as minority and women-owned businesses, thereby promoting equal opportunities within the state's economic framework. By providing a designated certification mechanism, the bill seeks to enhance support for disabled-owned enterprises, enabling them to thrive by gaining recognition and access to state programs.
Contention
Although the bill is largely seen as a positive step toward inclusivity, there may be points of contention related to the stringent eligibility criteria and the enforcement of these requirements. The bill outlines grounds for denial or revocation of certification, including failure to meet the requisite criteria or submission of false information. This could lead to disputes regarding business classifications. Furthermore, it is pivotal that there are sufficient safeguards in place to ensure that businesses genuinely owned and controlled by persons with disabilities are the ones benefiting from this initiative, to prevent misrepresentation and ensure fair access to state contracting and programs.
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.
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.
Provides that disability-owned businesses be included in certain business development programs, direct loan programs, and certification processes; requires Chief Diversity Officer compile information on awarding of State contracts to disability-owned businesses.
Provides that disability-owned businesses be included in certain business development programs, direct loan programs, and certification processes; requires Chief Diversity Officer compile information on awarding of State contracts to disability-owned businesses.