N.J.S.A. 52:32-31.16 — Socially, economically disadvantaged business enterprise owners, program, Department of the Treasury; certification, qualifications.

52:32-31.16 Socially, economically disadvantaged business enterprise owners, program, Department of the Treasury; certification, qualifications. 2. a. The department shall establish a program for qualified business enterprise owners that are socially and economically disadvantaged and certified as qualified in accordance with this act, P.L.2023, c.300 (C.52:32-31.15 et seq.). To establish and implement the program, the department shall: (1) establish a procedure through which a socially and economically disadvantaged business owner may apply for certification as a qualified business enterprise under the program, which certification shall be supported by available data and information; (2) establish a system for accepting State-approved third party certifications for the purpose of certifying qualified business enterprises; (3) establish reasonable regulations appropriate for controlling the certification of socially and economically disadvantaged businesses as qualified business enterprises and for maintaining a list of such business enterprises; (4) establish a procedure for annually reviewing the list of qualified business enterprises for the purpose of determining whether a business on the list is eligible to maintain its certification as a qualified business enterprise; and (5) establish a procedure through which the certification of a business as a qualified business enterprise may be challenged by a third party. b. Any procedures established pursuant to paragraphs (1), (4), and (5) of subsection a. of this section shall include notice to the business owner whose certification is at issue and an opportunity for a hearing before the department. The hearing shall not be considered a contested case pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.). L.2023, c.300, s.2.

This is the verbatim text of N.J.S.A. 52:32-31.16, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.