Establishes "Minority and Women-Owned Businesses State Contractor Remedies Act."

This bill establishes specific contracting goals for New Jersey State agencies to increase participation by minority and women-owned businesses in state contracts. It sets detailed percentage targets (ranging from 3.95% to 37.59%) for different contract types and business categories based on a 2024 disparity study, including 24.26% for construction contracts with women-owned businesses and 10.14% for Hispanic American-owned businesses in construction. State agencies must develop annual plans to meet these goals, make a "good faith effort" to achieve them, and submit reports to the Office of Diversity and Inclusion. If agencies fail to make a good faith effort, they must submit a remedial plan, and the Chief Diversity Officer can require their procurement be managed by another agency. Prime contractors are also required to make good faith efforts to meet subcontractor goals for these businesses.