This bill amends the eligibility criteria for certification of minority-owned and women-owned businesses in New Jersey. It specifies that such businesses engaged in the procurement of materials and supplies will not be disqualified from certification solely because they are not significantly involved in the production or movement of inventory. To qualify, these businesses must place an order with a distributor or manufacturer, take possession of the materials through payment, assume ownership risk, and ensure the shipment of the products to customers.

Additionally, the bill introduces a requirement for the uniform certification procedure to include guidance on identifying whether beneficial owners of a business have created arrangements to evade ownership requirements. This aims to enhance the integrity of the certification process for minority and women-owned businesses. The bill is set to take effect immediately upon passage.

Statutes affected:
Introduced: 52:27H-21.11