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NJ S3805
Bill
Status
Introduced
3/5/2026
Primary Sponsor
Teresa Ruiz
Click for details
AI Summary
- State agencies may issue advanced payments of up to 10 percent of total contract value to contractors certified by the Division of Revenue Business Certification Program in the Department of the Treasury
- Eligible certifications include small businesses, LGBTQ+ businesses, minority and women-owned businesses, veteran and disabled veteran-owned businesses, and businesses owned by socially and economically disadvantaged individuals
- Contractors must forward a proportionate share of advanced payments to certified subcontractors within 60 days of receiving the payment
- Contractors and subcontractors who fail to begin or complete contracted work are liable for repayment of advanced amounts
- Takes effect 90 days following enactment
Legislative Description
Provides for State agencies to issue advanced payments to certified business enterprises awarded State contracts.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
3/5/2026
Committee Referrals
State Government, Wagering, Tourism & Historic Preservation3/5/2026
Full Bill Text
No bill text available