ASSEMBLY COMMERCE AND MILITARY AND VETERANS' AFFAIRS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 1705

STATE OF NEW JERSEY

DATED: APRIL 1, 1996

      The Assembly Commerce and Military and Veterans' Affairs Committee reports favorably Assembly Bill No.1705.

      As reported, this bill amends the definition of "qualified small business enterprise" in section 1 of P.L.1985, c.482 (C.40A:11-41) to include a business which has its principal place of business within a municipality where an urban enterprise zone is located.

      The bill also amends section 2 of P.L.1985, c.482 (C.40A:11-42) to permit a municipality, in which an urban enterprise zone is located, to establish a set-aside program for construction-related contracts in favor of local "qualified small business enterprises" when State funds are used, in whole or in part, for a construction project.