A bill, NJ S2249 (22R), has been passed by the New Jersey State Senate which revises the set-aside program currently in place for disabled veteran-owned business enterprises (DVBEs). The bill was sponsored by Senator Troy Singleton and Senator Steve Oroho.
Under previous law, there must be three qualified DVBEs for a particular contract let by the state for that contract to be designated a set-aside contract for DVBEs. The bill has revised that number of qualified DVBEs to two, rather than three. The bill notes that both neighoring states and the federal government use a so-called "rule of two" for similar DVBE set-aside programs. The bill thus brings New Jersey into conformity with those government entities.
The bill follows legislative attempts to raise the state DVBE set-aside goal from three percent to six percent (see https://www.dbegoodfaith.com/item.php?item_type=news&news_id=2308), which have not yet been passed.
"Providing protections and simplifying the process are concrete ways we can assist these courageous individuals as they seek to build, establish and grow their civilian livelihoods," said Sen. Singleton in a statement.
Read a press release from Sen. Singleton's office at https://www.troysingleton.com/senate_passes_bipartisan_legislation_assisting_veteran_owned_businesses.
Read the bill at https://www.njleg.state.nj.us/bill-search/2022/S2249.
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