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

This bill modifies eligibility rules for New Jersey's state small business set-aside program, which helps direct state contracts to qualifying small businesses. It changes how gross revenue is calculated for eligibility: businesses must now use a five-year average (instead of three years) of revenue, with specific formulas for newer businesses or those with short fiscal years. The bill also clarifies that employee count requirements apply only to businesses without an applicable federal revenue standard. These changes directly affect businesses seeking state contracts under the set-aside program.