Relates to contractual relationships with minority and women-owned businesses

This bill requires contractors working on public projects to report to state and project owners if they end contracts with minority-owned or women-owned businesses (M/WBEs) before project completion. Contractors must notify within seven days of such termination; failure to report incurs a fine set by the Division of Minority and Women's Business Development. It applies specifically to subcontracting or joint venture relationships on public works projects, ensuring transparency in M/WBE partnerships during project execution.