Provides for State agencies to issue advanced payments to certified business enterprises awarded State contracts.

This bill allows New Jersey state agencies to provide certified business enterprises with up to 10% of a contract’s value as an advance payment before work begins. It directly affects certified small, minority/women-owned, LGBTQ+, veteran, and disadvantaged-owned businesses that bid on state contracts but lack upfront capital. Contractors must request the advance in their bid, share it proportionally with certified subcontractors within 60 days, and repay if they fail to start or complete the work. The Division of Revenue Business Certification Program in the Treasury Department determines eligibility for these certifications.