Of the 123 bills signed into law by Gov. Phil Murphy on Tuesday there were two positive pieces of legislation for nonprofits.
Both were supported by NJBIA.
Bill S-844/A-4635 (Pou, D-35; Greenstein, D-14; Zwicker D-16; Lopez, D-19) revises financial reporting requirements for charitable organizations – most notably excluding non-monetary in-kind donations from gross revenue when reporting. for purpose of reporting requirements.
“There are so many important nonprofits and charitable organizations doing critical work across the state of New Jersey – from food banks to homeless shelters to goodwill stores,” said NJBIA Chief Government Affairs Officer Chrissy Buteas. “We’re glad to see them all get this needed flexibility, especially during these challenging times, to better help them focus on their core missions.”
Meanwhile, bill S-994 (Sweeney D-3; Singleton, D-7; Lopez D-19) requires state agencies and political subdivisions to make a good faith effort to purchase 5% of goods and services from the Central Nonprofit Agency, which employs individuals with disabilities.
“This law will assist with public funds supporting New Jersey’s disability and nonprofit communities,” Buteas added. “It will help ensure that state agencies are making an additional effort to support a nonprofit that employs people with disabilities.”
“On behalf of the many nonprofits that will benefit from these bills, we thank Gov. Murphy, the sponsors and the Legislature for their support,” Buteas said.