A2077

New Jersey A2077 imposes a one percent administrative fee on out-of-State contractors for contracts subject to prevailing wage and registration acts.

New Jersey A2077 imposes an administrative fee equal to one percent of the total value of any contract awarded to an out-of-State contractor. This fee applies to contracts subject to the New Jersey Prevailing Wage Act and the Public Works Contractor Registration Act. Out-of-State contractors can subtract the costs of other State business registration fees from the total amount of the administrative fee due. The fee is to be paid to the State Treasurer for deposit in the General Fund. The bill takes effect immediately and applies to contracts awarded following the date of enactment.