Executive Order 295 signed on May 3 by Governor Phil Murphy directs the establishment of a certification program for LGBTQ+ – owned businesses
Governor Murphy signed an Executive Order yesterday, May 3, 2022, directing the establishment of a certification program for LGBTQ+ – owned businesses. Such certification will allow businesses who obtain the certification to so designate in their responses to requests for proposals and other requests for qualifications or information. The designation, as a certified LGBTQ+ owned business, will be handled through the State Department of the Treasury.
In order to qualify as LGBTQ+ – owned, a business must be majority owned and operated by individuals who identify as members of the LGBTQ+ community.
Within Executive Order 295, Governor Murphy permits the Department of the Treasury to accept reciprocal data from other public and private entities who also have a certification process. This Order also directs that the certifying criteria for designation of a LGBTQ+ – owned business must be “substantially similar” to the process already used to determine whether a business qualifies as a minority-owned or women-owned business enterprise.
We expect additional information regarding the timeline for certification in the coming weeks. The attorneys at Cooper Levenson are able to guide your business through this certification process, as well as those for establishing your business as a certified minority-owned or women-owned business. For questions, Amy Rudley can be reached at email@example.com or 609.572.7408