Budget & Taxes

New Jersey's Bill A 3496 requires state agencies to make a good faith effort to increase contracts (procured without advertisement) awarded to certified minority-owned and women-owned businesses by 30 percent within five years. This applies to agencies using delegated purchasing authority for contracts under specific dollar thresholds (e.g., $150,000-$250,000). The State Treasurer must develop guidelines for agencies and submit six-month progress reports to the Governor and Legislature, while agencies must report their actions to the Treasurer every 30 days. The bill directly affects state agencies managing procurement and certified minority/women-owned businesses seeking government contracts.