Requires State agencies to make good faith effort towards certain goals to use certified minority and women-owned businesses as prime contractors and subcontractors.

This bill requires New Jersey state agencies to make a good faith effort to increase the use of certified minority and women-owned businesses as prime contractors and subcontractors in state procurement. It mandates agencies to develop specific goals based on a statewide disparity study (to be completed by August 2029), which found minority and women-owned businesses currently receive only 4-15% of prime contract dollars across different sectors. Contractors must submit utilization plans detailing how they'll engage these businesses, with waivers available for those who make good faith efforts but can't meet requirements. Agencies must report annually on progress toward goals, with the bill set to expire on December 31, 2029 if the disparity study shows no continuing disparity.