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 study whether disparities exist in how state agencies use minority-owned and women-owned businesses for purchasing goods and services. The study must determine if these businesses are underutilized compared to their availability in the state. After completing the study, the officer must submit findings and recommendations to the Governor and Legislature, with follow-up reports every four years assessing implementation of prior recommendations and whether new studies are needed. The report could inform potential policy changes to improve opportunities for these businesses in state contracting. This affects all state agencies, including departments, commissions, and independent authorities that award public contracts.