New Jersey § 5:12-186
Full text of New Jersey New Jersey Statutes § 5:12-186, with citation guidance and answers to common questions.
§ 5:12-186.
a. Notwithstanding the provisions of any law, rule or regulation to the contrary,
every casino licensee shall establish goals of expending at least 5% of the dollar
value of its contracts for goods and services with minority and women's business enterprises by the end of the third year following the receipt of a casino license, and 10% of the dollar value of its contracts for goods and services with minority
and women's business enterprises by the end of the sixth year following the receipt of a casino license ; and each such licensee shall have a goal of expending 15% of the dollar value of
its contracts for goods and services with minority and women's business enterprises by the end of the 10th year following the receipt of a casino license . Each casino licensee shall be required to demonstrate annually that the requirements of this act have been met by submitting a report which shall
include the total dollar value of contracts awarded for goods or services and the
percentage thereof awarded to minority and women's business enterprises. As used in this section, “ goods and services ” shall not include (1) utilities and taxes; (2) financing costs, such as mortgages,
loans or any other type of debt; (3) medical insurance; (4) dues and fees to the
Atlantic City Casino Association; (5) fees and payments to a parent or affiliated
company of the casino licensee other than those that represent fees and payments for
goods and services supplied by non-affiliated persons through an affiliated company
for the use or benefit of the casino licensee; and (6) rents paid for real property
and any payments constituting the price of an interest in real property as a result
of a real estate transaction. b. A casino licensee shall make a good faith effort to meet the requirements of this
section and shall annually demonstrate to the division that such an effort was made. c. A casino licensee may fulfill no more than 70% of its obligation or part of it
under this act by requiring a vendor to set aside a portion of his contract for minority
or women's business enterprises. Upon request, the licensee shall provide the division with proof of the amount of the set-aside.
Frequently Asked Questions About New Jersey § 5:12-186
What does New Jersey Statutes § 5:12-186 cover?
Section 5:12-186 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 5:12-186?
A common citation format is "New Jersey Statutes § 5:12-186" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 5:12-186 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.