Establishes Division of Minority and Women Business Development and State Chief Disparity Officer to monitor efforts to promote participation by minority-owned and women-owned businesses in State contracting.

S 1062 establishes a Division of Minority and Women Business Development within New Jersey’s State Department of the Treasury, led by a State Chief Disparity Officer, to monitor and improve participation of minority-owned and women-owned businesses in state contracting. The officer will track contract awards to these businesses (including total value and percentage of contracts), report findings to the Governor and Legislature, and require state agencies to designate liaison officers. The bill mandates full implementation of certified business status for minority/women-owned enterprises (banning self-certification) and modifies small business set-aside contracts under $2,000 to be negotiated without public bidding but using competitive methods. This directly affects state agencies, certified businesses, and the state’s procurement process.