This bill amends the current law regarding the threshold for filing an annual disclosure statement with the New Jersey Election Law Enforcement Commission (ELEC) by reducing the amount from $50,000 to $17,500 in public contracts. Under the new provisions, any business entity that receives $17,500 or more in public contracts within a calendar year and makes political contributions to candidates or political committees must file an annual disclosure statement detailing those contributions. This change aims to align the reporting requirements more closely with the threshold for state agencies, which cannot enter into contracts exceeding $17,500 with entities that have made contributions to certain political offices or committees in the preceding 18 months.

Additionally, the bill mandates that ELEC publish a link to the official website of the Division of Purchase and Property, along with a notice indicating that procurement information related to public contracts awarded by state agencies can be accessed there. The Department of the Treasury is also required to announce the adjusted threshold amount on its website and the Division of Purchase and Property's webpage. This legislation is set to take effect on the first day of the calendar year following its enactment.

Statutes affected:
Introduced: 19:44A-20.27