Senate Commerce Committee Statement to Senate, No. 3460 — State of New Jersey (January 26, 2023)

Summary

A Senate Commerce Committee statement to the Senate on Senate Bill No. 3460, State of New Jersey, dated January 26, 2023, reporting the bill favorably with committee amendments. As amended, the bill authorizes the Department of the Treasury to certify businesses owned by lesbian, gay, bisexual, transgender, queer, or other persons who do not identify as heterosexual or cisgender, as it certifies minority and women's businesses. The statement says the bill codifies the program established by Governor Murphy in Executive Order No. 295 (2022). It says the Division of Revenue already certifies minority owned, women owned, veteran owned and disabled-veteran owned businesses, but no mechanism existed for LGBTQ+ businesses before E.O. 295.

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SENATE COMMERCE COMMITTEE

STATEMENT TO

SENATE, No.
3460

with
committee amendments

STATE
OF NEW JERSEY

DATED: JANUARY
26, 2023

The Senate Commerce Committee reports favorably and
with committee amendments Senate Bill No. 3460.

As amended, this bill authorizes the Department of the
Treasury to certify businesses owned by lesbian, gay, bisexual, transgender,
queer, or other persons who do not identify as heterosexual or cisgender in the
same way that the Department provides for the certification of minority and
women’s businesses. This bill codifies the program established by Governor
Murphy in Executive Order No. 295 (2022) into law.

New Jersey’s LGBTQ+ residents are vital participants
in economic, civic, and social life in the State. Businesses owned in whole or
in part by LGBTQ+ individuals touch all parts of the State’s economy, providing
vital goods and services to New Jerseyans and visitors. Enabling the
certification of business entities owned by members of underrepresented
communities contributes to the success and recognition of such businesses and
helps such businesses thrive. The Division of Revenue in the Department of the
Treasury already provides the opportunity for minority owned, women owned,
veteran owned, and disabled-veteran owned businesses to apply for certification
as such, but no such mechanism existed in New Jersey for LGBTQ+ businesses
prior to E.O. 295. This bill permanently remedies that lack of opportunity,
affirms that LGBTQ+ business owners are welcome and encouraged to conduct
business in New Jersey, and enables such businesses to proudly announce that
they are recognized by the State as an LGBTQ+ business enterprise.

COMMITTEE AMENDMENTS:

The committee amended
the bill to make certain technical corrections.

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