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NJ S3924
Bill
Status
3/12/2026
Primary Sponsor
Angela Mcknight
Click for details
AI Summary
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Establishes a 15% de minimis indirect cost rate for nonprofit organizations receiving state or local government contracts, prohibiting agencies from limiting reimbursements for indirect, administrative, or overhead costs
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Requires the Department of Treasury to create and maintain a centralized database where nonprofits can submit standard documents (tax-exempt status, certificates of incorporation, audited financials, insurance proof, etc.) for use across all state and local contract applications
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Mandates annual cost-of-living adjustments to contract amounts based on Consumer Price Index changes, calculated each December and effective January 1
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Requires automatic 3-month contract extensions if renewal processes are not completed within 10 days of expiration, and prohibits unilateral changes to contract terms by government agencies
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Imposes 30-day payment deadlines on government agencies, with 1% interest penalties on late payments to nonprofits
Legislative Description
Establishes certain requirements for State and local governments awarding contracts or grants to nonprofit organizations.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
3/12/2026