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

This bill establishes new contracting goals for New Jersey state agencies to increase participation by minority and women-owned businesses, based on a 2024 disparity study showing ongoing statistical gaps in public contracting. It requires state agencies and prime contractors to make a "good faith effort" to meet specific targets - 7% for minority-owned businesses and 3% for women-owned businesses - across construction, professional services, and goods/services contracts. The law defines key terms like "minority business" and references the 2024 disparity study as the basis for these goals, which replace previous race-neutral approaches. The bill is pending before the Assembly State and Local Government Committee.