Trenton, NJ – A new bill has been introduced in the New Jersey Legislature to establish a Division of Minority and Women Business Development within the State Department of the Treasury.
The division will be led by a State Chief Disparity Officer, overseeing and monitoring policies, practices, and programs that promote equal opportunities for minority-owned and women-owned business enterprises in State contracting.
The State Chief Disparity Officer will be responsible for gathering data on the awarding of State contracts to minority-owned and women-owned businesses. This includes compiling information on the total value of contracts and the percentage awarded to these businesses. The findings will be reported periodically to the Governor and the Legislature.
To support these efforts, each State department and agency, including independent State authorities, will designate a disparity officer to act as a liaison with the State Chief Disparity Officer.
The Division of Minority and Women Business Development was initially established by Executive Order No. 34 in 2006. This bill aims to codify the division in State law, solidifying its structure and purpose.
Additionally, the bill mandates full implementation of existing laws regarding the State certification of minority-owned and women-owned businesses, eliminating self-certification.
Contracts under the State’s small business set-aside program valued below the threshold for public building projects (currently set at $2,000) will not be publicly advertised but will instead be negotiated using a competitive contracting process with small businesses.