Requires boards of education, municipalities, counties, and certain other local contracting units to determine and utilize cost-saving practices when procuring goods and services.

This bill requires New Jersey school districts, municipalities, counties, and other local contracting units to evaluate whether cooperative purchasing systems would save money before procuring goods and services. If a cost savings analysis shows cooperative purchasing would be more economical (excluding new construction or expansion), the contracting unit must use this approach. The bill directs the Division of Local Government Services to develop guidelines and cost-saving templates to help local governments implement cooperative purchasing, including information about benefits like reduced costs and improved project execution. These guidelines must also ensure contractors comply with existing state and federal laws regarding discrimination, wage requirements, and other standards.