Sponsored by:
Senator TROY SINGLETON
District 7 (Burlington)
Co-Sponsored by:
Senators Scutari and Pou
SYNOPSIS
Establishes “Biannual Small Business Matchmaker Initiative” in Department of State.
CURRENT VERSION OF TEXT
As reported by the Senate Economic Growth Committee on September 17, 2020, with amendments.
An Act concerning certain business matchmaking events and supplementing Title 52 of the Revised Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. As used in P.L. , c. (C. ) (pending before the Legislature as this bill):
“Authority” means the New Jersey Economic Development Authority established pursuant to section 4 of P.L.1974, c.80 (C.34:1B-4).
“Business Action Center” or “center” means the Business Action Center established in the New Jersey Department of State pursuant to Reorganization Plan No. 003-2011.
“Chief Diversity Officer” means the position established in the Division of Purchase and Property in the New Jersey Department of the Treasury pursuant to section 1 of P.L.2017, c.95 (C.52:32-18.1).
“Matchmaker initiative” means the “Biannual Business Matchmaker Initiative” established pursuant to section 2 of P.L. , c. (C. ) (pending before the Legislature as this bill).
“Matchmaking event” means a biannual small business matchmaking event established pursuant to section 2 of P.L. , c. (C. ) (pending before the Legislature as this bill).
“Nonprofit corporation” means a private, not-for-profit corporation, determined by the federal Internal Revenue Service to be a tax exempt organization pursuant to section 501(c)(3) of the Internal Revenue Code of 1986, 26 U.S.C. s.501(c)(3), whose mission is to stimulate job creation within and attract capital investment to New Jersey.
“Small business” means a business engaged in the conduct of a trade or business in this State that qualifies as a “small business concern” within the meaning of the federal "Small Business Act," Pub.L.85-536 (15 U.S.C. s.631 et seq.) for the purpose of the small business’s eligibility for receiving assistance from the United States Small Business Administration. “Small business” shall include, but not be limited to, a small business established and operating in this State that is certified, pursuant to federal law, under the United States Small Business Administration’s 8(a) Business Development program or the HUBZone program, or as a small disadvantaged business, or as a business concern by the United States Department of Housing and Urban Development pursuant to section 3 of the Housing and Urban Development Act of 1968 (12 U.S.C. s.1701u).
2. a. The Business Action Center, in consultation with the authority and the Chief Diversity Officer, shall establish and maintain a program, to be known as the “Biannual Business Matchmaker Initiative,” where the center shall host a biannual business matchmaking event with the purpose of connecting small businesses with representatives of federal, State, and local government agencies and their government contractors seeking small businesses that would provide the government contractor with subcontracting services. Each matchmaking event shall be organized or structured with the goal and in a manner that ensures small businesses participating in the matchmaker initiative are informed of the government subcontracting service opportunities available to small businesses at matchmaking events and that government contractors realize the potential of partnering with small businesses for subcontracting services. The center shall establish the terms and conditions by which a small business and government contractor may apply for participation in the matchmaker initiative. Prior to planning or scheduling a matchmaking event, the center shall contact State and federal agencies to request those agencies to send to the center any small business contact information list which shall be used by the center to solicit small businesses for participation in the matchmaker initiative.
b. The center is authorized to seek and accept gifts, grants, or donations from private or public sources for the costs of hosting a matchmaking event, except that the center may not accept a gift, grant, or donation that is subject to conditions that are inconsistent with any other law of this State. The center may enter into an agreement with a nonprofit corporation to allow the nonprofit corporation to host a matchmaking event. The center shall coordinate the scheduling and promotion of each matchmaking event in conjunction with the African American Chamber of Commerce of New Jersey, the Statewide Hispanic Chamber of Commerce of New Jersey, the New Jersey Association of Women Business Owners, the New Jersey State Veterans Chamber of Commerce, 1the New Jersey Chamber of Commerce,1 and the National Federation of Independent Business in New Jersey.
c. The center, in partnership with the Chief Diversity Officer, shall report annually to the Governor and, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), to the Legislature on the number of subcontracts awarded to and the types of government contracting services provided by participating small businesses as a result of the implementation of the matchmaker initiative and the percentage of the total number of subcontracts awarded to those participating small businesses.
3. This act shall take effect immediately.