New Jersey A1709 modifies eligibility criteria for minority-owned and women-owned businesses.

New Jersey A1709 amends the eligibility criteria for minority-owned and women-owned businesses to allow those engaged in procurement of materials and supplies to qualify for certification, even if they are not involved in the production or movement of inventory. The bill also requires the uniform certification procedure to provide guidance for determining whether beneficial owners have created a shell company or other arrangement to evade ownership requirements. The act takes effect immediately.

New Jersey A1709 modifies eligibility criteria for minority-owned and women-owned businesses.

New Jersey A1709 amends the eligibility criteria for minority-owned and women-owned businesses to allow those engaged in procurement of materials and supplies to qualify for certification, even if they are not involved in the production or movement of inventory. The bill also requires the uniform certification procedure to provide guidance for determining whether beneficial owners have created a shell company or other arrangement to evade ownership requirements. The act takes effect immediately.