Source: Assembly Republican Press Release -
Bidding for local or county public contracts will be simplified for small business under legislation from Assembly Republican Rob Clifton that cleared the Assembly today.
The bill, A-1794, would create jobs for local workers and reduce costs to taxpayers by lifting the requirement that bidders submit a financial statement if they are also required to furnish either a guarantee or a surety company certificate.
“Requiring unnecessary paperwork discourages small firms from bidding on projects. Increasing the number of bidders benefits the taxpayers, small business, and the decision-makers,” said Clifton, R-Monmouth, Middlesex, Ocean and Burlington.
The Assemblyman noted the requirement for the financial statements was to protect the government entities and taxpayers, but that same protection is provided by a guarantee or surety bond.
“Removing unnecessary redundancy opens the field to more qualified bidders,” Clifton said. “With more efficient bidding, we can save taxpayer money and create badly needed jobs in New Jersey.”