NJ S3786

Establishes a minimum 15% indirect cost rate for nonprofit organizations receiving state or local government contracts, and prohibits agencies from limiting reimbursements of indirect, administrative, or overhead costs

Requires the Department of Treasury to create and maintain a centralized database where nonprofits can submit common documents (tax-exempt status, insurance, business registration, etc.) to streamline the contracting process across all government agencies

Mandates annual cost-of-living adjustments to contract amounts based on the Consumer Price Index, and automatically extends contracts for three months if renewal is not completed within 10 days of expiration

Prohibits unilateral changes to contract language or terms by government agencies and requires standardized reporting procedures to reduce redundant monitoring of nonprofits

Requires government agencies to pay nonprofits within 30 days of the contract date or receipt of goods/services, with 1% interest owed on late payments