New Jersey A4465 establishes a set-aside program for state contracts, reserving at least 22% for union business enterprises.

New Jersey A4465 creates a state contract set-aside program for union business enterprises. The Department of the Treasury will administer the program, requiring proof that businesses meet the criteria for union business enterprises. The bill sets a goal for contracting agencies to award at least 22% of their contracts to these enterprises. Each contracting agency must develop an annual plan to meet this goal. The department will establish regulations, maintain lists of designated businesses, and create procedures for businesses to request inclusion and for annual list reviews.

New Jersey A4465 establishes a set-aside program for state contracts, reserving at least 22% for union business enterprises.

New Jersey A4465 creates a state contract set-aside program for union business enterprises. The Department of the Treasury will administer the program, requiring proof that businesses meet the criteria for union business enterprises. The bill sets a goal for contracting agencies to award at least 22% of their contracts to these enterprises. Each contracting agency must develop an annual plan to meet this goal. The department will establish regulations, maintain lists of designated businesses, and create procedures for businesses to request inclusion and for annual list reviews.