New Jersey State Senator Joe Cryan has introduced legislation which would raise the percentage of contracts set aside for disabled-veteran-owned businesses (DVBEs) from three percent to six percent.
In addition to raising the set-aside percentage, the bill provides for liquidated damages in instances where the terms of a contract involving the set-aside program are violated. The liquidated damages provision allows for a contractor's remedy for "bad faith", pursuant to the existing requirement for prime contractors to seek out DVBE subcontractors in good faith. The bill follows reports that only two of the state's 72 agencies with procurement powers have fully complied with the laws relating to the DVBE set-aside program.
"We have to do more and do better to make [the set-aside program] work and give these vets the opportunities they deserve," said Senator Cryan in a statement.
Read the press release on the bill from New Jersey Senate Democrats at https://www.njsendems.org/cryan-bill-would-expand-enforce-business-set-aside-program-for-disabled-vets/.
Read the bill at https://legiscan.com/NJ/bill/S2577/2022.
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