Two pieces of legislation sponsored by Sen. Ronald Rice, D-28th District, would create greater transparency for businesses, as well as health care insurance consultants and carriers who contract with public entities.
“Transparency is one of the most important characteristics needed in politics,” said Rice in a statement. “Just as we should expect transparency in politics, we should expect it from the private sector, as well as when working with the public sector.”
According to Rice, Senate Bill 2228, would require health insurance consultants and carriers to provide health insurance information to any public entity they are contracted with, as health insurance is a major expense.
By requiring greater transparency in health insurance usage and costs, as well as requiring review of this information, the bill would help the public ensure taxpayer funds are being spent on their employee’s health insurance in a cost-effective manner.
The second bill, Senate Bill 3199, would require a business to file an annual disclosure statement with the New Jersey Election Law Enforcement Commission for campaign contributions. This is if the business entity receives $50,000 or more over the course of a calendar year in commissions or fees for placing third parties into contractual relationships with public entities. The bill is intended to provide transparency and close a loophole that has permitted certain companies to circumvent laws requiring disclosure of campaign contributions. Under current law, a business is only required to report amounts received through direct contracts with public entities.
S2228, was introduced on Mar. 5, 2018 into the Senate Commerce Committee. S3199 was introduced on Nov. 26, 2018 into the Senate State Government, Wagering, Tourism and Historic Preservation Committee.