Requires Department of Treasury to update New Jersey Disparity Study every five years.

This bill (A1397) requires New Jersey's Department of Treasury to update the state's Disparity Study every five years, starting January 1, 2029. The study examines how well small, minority, women, and service-disabled veteran-owned businesses are participating in state government contracts. The updates must track changes in these businesses' availability and use in state procurement. The requirement applies directly to the state's procurement system and the businesses seeking state contracts. The bill builds on the 2024 Disparity Study, mandating regular reviews to inform policy.