New Jersey A3492 sets requirements for state and local governments awarding contracts or grants to nonprofit organizations.

New Jersey A3492 establishes requirements for state and local governments when awarding contracts or grants to nonprofit organizations. It mandates the State Treasurer and local government agencies to develop procedures to reduce redundant monitoring by standardizing and integrating reporting procedures. The bill requires the creation of a database for nonprofit organizations to submit necessary documents for contracts or grants, excluding personal identifying information. It sets a de minimis indirect cost rate of 15 percent for contracts funded by federal or state funds.

New Jersey A3492 sets requirements for state and local governments awarding contracts or grants to nonprofit organizations.

New Jersey A3492 establishes requirements for state and local governments when awarding contracts or grants to nonprofit organizations. It mandates the State Treasurer and local government agencies to develop procedures to reduce redundant monitoring by standardizing and integrating reporting procedures. The bill requires the creation of a database for nonprofit organizations to submit necessary documents for contracts or grants, excluding personal identifying information. It sets a de minimis indirect cost rate of 15 percent for contracts funded by federal or state funds.