New Jersey S3401 establishes eligibility requirements for the State small business set-aside program.

New Jersey S3401 establishes eligibility requirements for the State small business set-aside program. It clarifies that only businesses without an applicable federal revenue standard are required to have a certain maximum number of employees. The bill also alters the definitions of gross revenue, requiring businesses in business for five or more completed years to have their revenues over the last five completed tax years divided by five.

New Jersey S3401 establishes eligibility requirements for the State small business set-aside program.

New Jersey S3401 establishes eligibility requirements for the State small business set-aside program. It clarifies that only businesses without an applicable federal revenue standard are required to have a certain maximum number of employees. The bill also alters the definitions of gross revenue, requiring businesses in business for five or more completed years to have their revenues over the last five completed tax years divided by five.