Provides preference for in-State businesses in State contracting.

This New Jersey bill requires state agencies to prioritize in-state businesses when awarding contracts for goods or services. If a New Jersey-based business bids within 5% of the lowest out-of-state bid, the contract must go to the in-state business; otherwise, the lowest bid wins regardless of location. The bill also allows large contracts to be split into smaller parts to help more New Jersey businesses compete and mandates that bidding specifications encourage open, competitive processes. It applies to all state agencies and departments when purchasing goods or services through public bidding.