Authorizes State Chief Diversity Officer to conduct disparity study concerning utilization of minority-owned and women-owned businesses in State procurement process.

This bill requires New Jersey's State Chief Diversity Officer to conduct a study examining whether disparities exist in the use of minority-owned and women-owned businesses when state agencies purchase goods and services. The study will assess if these businesses are utilized at rates matching their availability in the market, focusing on all state agencies, including departments, commissions, and independent authorities. After completing the study, the officer must submit a report with findings and recommendations to the Governor and Legislature to promote greater opportunities for these businesses in state procurement. The officer will also submit follow-up reports every four years to evaluate progress on prior recommendations and request funding for future studies if needed.