New Jersey A1695 regulates public service privatization contracts, ensuring cost savings without reduced services or workforce standards.

New Jersey A1695 establishes procedures and standards for public service privatization contracts, ensuring that any such contracts result in cost savings without increasing charges, reducing service quality, or lowering workforce standards. The bill mandates competitive bidding, cost analyses, and certifications from agencies. It also requires oversight by the State Auditor and the Office of the State Comptroller, with annual reports and post-audits to ensure compliance.

New Jersey A1695 regulates public service privatization contracts, ensuring cost savings without reduced services or workforce standards.

New Jersey A1695 establishes procedures and standards for public service privatization contracts, ensuring that any such contracts result in cost savings without increasing charges, reducing service quality, or lowering workforce standards. The bill mandates competitive bidding, cost analyses, and certifications from agencies. It also requires oversight by the State Auditor and the Office of the State Comptroller, with annual reports and post-audits to ensure compliance.