LEGISLATIVE FISCAL ESTIMATE
ASSEMBLY, No. 3496
STATE OF NEW JERSEY
222nd LEGISLATURE
DATED: JULY 9, 2026
SUMMARY
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Synopsis: |
Requires State agencies to make good faith effort to increase awarding of contracts procured without advertisement to minority- and women-owned businesses. |
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Type of Impact: |
Potential annual State expenditure increase. |
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Agencies Affected: |
Department of the Treasury. |
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Office of Legislative Services Estimate |
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Fiscal Impact |
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Annual |
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Potential State Expenditure Increase |
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Indeterminate |
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· The Office of Legislative Services (OLS) finds that requiring State agencies and certain officials in the Department of the Treasury to make a good faith effort to increase the percentage of non-advertised goods and services contracts awarded to certified minority-owned and women-owned businesses may increase annual State expenditures by an indeterminate amount due to the bill’s administrative rule making and reporting requirements and the additional outreach that may be necessary for State agencies to achieve the bill’s objectives.
BILL DESCRIPTION
This bill requires State agencies, the Director of the Division of Purchase and Property, and the Director of the Division of Property Management and Construction to make a good faith effort to achieve a goal of increasing the awarding of goods and services contracts procured without advertisement to certified minority-owned and women-owned businesses by 30 percent in the aggregate within five years of the effective date of this bill. The Department of the Treasury will develop guidelines and directives for State agencies and directors that will be used to achieve this goal. Each State agency will submit a report to the department detailing the efforts made by that agency to achieve such goal every 30 days. The department will submit a report to the Governor and to the Legislature detailing the efforts made by all State agencies and the directors to achieve the goal every six months.
FISCAL ANALYSIS
EXECUTIVE BRANCH
None received.
OFFICE OF LEGISLATIVE SERVICES
The OLS finds that requiring State agencies and certain officials in the Department of the Treasury to make a good faith effort to increase the percentage of non-advertised goods and services contracts awarded to certified minority-owned and women-owned businesses may increase annual State expenditures by an indeterminate amount due to the bill’s administrative rule making and reporting requirements and the additional outreach that may be necessary for State agencies to achieve the bill’s objectives.
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Section: |
State Government |
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Analyst: |
Associate Fiscal Analyst |
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Approved: |
Thomas Koenig Legislative Budget and Finance Officer |
This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.
This fiscal estimate has been prepared pursuant to P.L.1980, c.67 (C.52:13B-6 et seq.).