Authorizes local contracting units to establish joint venture and set-aside programs.

This bill authorizes New Jersey counties and municipalities to create programs reserving public contracts for minority-owned, women-owned, veteran-owned, and small businesses through joint ventures. Local governments can now set goals for directing a portion of their spending toward these businesses, including allowing qualified businesses to partner with others in joint ventures to compete for contracts. The law defines key terms like "qualified minority business enterprise" (51% owned by Black, Hispanic, Asian, or Indigenous individuals) and requires annual reports tracking progress toward these goals. It applies to all local government contracts for goods, services, or construction, aiming to expand opportunities for underrepresented business owners.