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. Specifically, it deletes the language that stipulates a "disabled veterans' business" must have its principal place of business in the State, thereby broadening the definition to include businesses that are independently owned and operated and at least 51% owned and controlled by disabled veterans, regardless of their location.

The intent behind this change is to expand the pool of eligible businesses and subcontractors that can compete for State contracts, potentially aiding contracting agencies in achieving their goal of awarding at least 3% of their contracts to disabled veterans' businesses. By eliminating the principal place of business requirement, the bill aims to enhance opportunities for disabled veterans in the business sector.

Statutes affected:
Introduced: 52:32-31.2