Creates State contract set-aside program for union business enterprises.

This bill creates a New Jersey state program requiring that at least 3% of state contracts for goods, equipment, construction, or services be set aside exclusively for "union business enterprises" (UBEs). UBEs must have a union workforce, be headquartered in New Jersey, hire apprentices, and document good-faith efforts to maintain a diverse workforce. The Department of the Treasury will verify UBE eligibility, maintain a list of qualified businesses, and handle disputes about designations. Businesses falsely claiming UBE status to win contracts may face penalties, including repayment of the contract value plus up to 10% in fines, and temporary bans from state contracts.