Authorizes local contracting units to establish joint venture and set-aside programs.

S 1103 allows New Jersey counties and municipalities to create programs that set aside public contracts for specific business types. It enables local governments to establish goals for awarding a percentage of their total purchasing (like construction or services) to qualified minority-owned, women-owned, veteran-owned, or small businesses. The bill defines terms like "qualified minority business enterprise" (51% owned by minority group members) and "joint venture" (where qualified businesses partner with others). Local governments must formally adopt these programs through ordinances or resolutions with specific spending targets. This directly affects local contracting agencies and small businesses seeking public contracts in New Jersey.