LGBT Business Cert To Be Created in New Jersey

LTBTQ+ business owners will be able to better connect with state contracts.

Source : Contactor News

February 21, 2023

Author : Alex Bustillos

The New Jersey Senate Commerce Committee has advanced legislation that, if passed, would allow the state's Department of Treasury to certify businesses owned by LGBTQ+ individuals (or LGBTBEs) in the same way that they currently directly certify M/WBEs.

Senator Nellie Pou and Senate Majority Leader M. Teresa Ruiz sponsored this historic Bill S3460 Sca (1R).

The bill explicitly enables the Treasury's Division of Revenue and Enterprise Services to make these certifications (also in line with the current M/WBE certification policy. It also permits the Division to accept certifications from other sources or reciprocal agreements, but it also establishes a program for the Division to certify LGBTBEs independently. The bill states that a recognized LGBTBE will be “qualified for any applicable State programs and initiatives for LGBTQ+ enterprises”.

The bill was referred to the Senate Budget and Appropriations Committee after being released from the Senate Commerce Committee with a 4-0 recommendation.

Gov. Phil Murphy issued Executive Order No. 295 in May 2022, asking the New Jersey Department of Treasury to establish a state-backed certification program for LGBTQ+-owned businesses. The free certification will provide access to public and private contracting opportunities and allow companies to identify as "LGBTQ+ owned" in their advertising.

Category : LGBTQ Owned Businesses State Government

Related Update