Requires certain public contracts for insurance coverage and consulting services to be awarded through competitive contracting process.

This bill requires New Jersey school boards to use competitive bidding when purchasing insurance or hiring insurance consultants, directly affecting school districts across the state. It mandates that consultants be paid a fixed fee (not commissions) by the school board, prohibits insurers from paying consultants for services related to school contracts, and requires annual disclosures of past commissions received from insurers. School boards must include these requirements in bidding documents and publish procurement notices in local media and online. Violations allow school boards to terminate contracts and seek reimbursement for improper payments. The law aims to prevent conflicts of interest in school insurance procurement.