Establishes eligibility requirements for State small business set-aside program.

This bill clarifies eligibility rules for New Jersey's State small business set-aside program, which helps direct state government contracts to small businesses. It specifies that employee count requirements apply only to businesses without a federal revenue standard (13 CFR §121.201), and changes how gross revenue is calculated: businesses must now use a 5-year average (instead of 3 years) of revenue history for eligibility. This directly affects businesses seeking state contracts under the program, requiring updated revenue reporting. The changes update the existing Set-Aside Act (P.L.1983, c.482) and supersede certain existing regulations.