Requires Department of Treasury to update New Jersey Disparity Study every five years.

This bill requires New Jersey's Department of Treasury to update the state's Disparity Study every five years, starting January 1, 2029. The updates must track changes in how often small, minority-owned, women-owned, and service-disabled veteran-owned businesses secure state government contracts. The study, originally completed in 2024, directly affects state procurement policies and these business categories. This ensures regular assessment of opportunities for underrepresented businesses in state contracting.