Establishes price preference program on State contracts for service-disabled veteran-owned businesses.

This bill establishes a 10% price preference for qualified service-disabled veteran-owned businesses when bidding on state contracts paid with public funds. State agencies must award contracts to the lowest qualified bidder after applying the preference, if that business meets all solicitation requirements. To qualify, a business must be independently owned, based in New Jersey, have 51% ownership by service-disabled veterans (certified by the VA), and be managed by disabled veterans or their spouses if the veteran has a severe disability. The preference also allows surviving spouses to maintain eligibility if a veteran owner dies during bidding or contract execution.