ASSEMBLY COMMUNITY DEVELOPMENT AND WOMEN'S AFFAIRS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4486

STATE OF NEW JERSEY

DATED:  MAY 05, 2025

      The Assembly Community Development and Women's Affairs Committee reports favorably Assembly Bill No. 4486.

This bill establishes a State contract goal for socially and economically disadvantaged businesses. 

     The bill establishes a goal that contracting agencies award at least 30 percent of their contracts to socially and economically disadvantaged businesses.

     Under current law, N.J.S.A.52:32-31.15, “socially disadvantaged businesses” are businesses owned by individuals who can demonstrate membership in a racial minority group, or show personal disadvantage due to: color; ethnic origin; gender; sexual orientation; gender identity; physical disability; or long-term residence in an environment isolated from the mainstream of American society, or location in an area of high unemployment. “Economically disadvantaged businesses” are businesses owned by individuals who can demonstrate that their ability to compete for State contracts has been impaired due to diminished capital and credit opportunities, as compared to others in the same line of business who are not socially disadvantaged and who have a personal net worth below a certain level.