This bill amends the Set-Aside Act for Disabled Veterans Businesses by removing the requirement that these businesses must have their principal place of business in the State of New Jersey. The definition of a "disabled veterans' business" is updated to eliminate the stipulation that the business must be located within the state, while still maintaining that it must be independently owned and operated, with at least 51% ownership and control by disabled veterans. This change aims to broaden the eligibility criteria for businesses seeking to participate in state contracts.

By expanding the pool of eligible businesses, the bill seeks to enhance the ability of contracting agencies to meet the existing goal of awarding at least 3% of their contracts to disabled veterans' businesses. The removal of the principal place of business requirement is expected to facilitate greater competition and potentially increase the number of contracts awarded to these businesses, thereby supporting disabled veterans in the state.

Statutes affected:
Introduced: 52:32-31.2