This bill amends existing law to establish a State contract goal of at least 30 percent for contracting with qualified business enterprises, specifically targeting socially and economically disadvantaged businesses. The legislation mandates that contracting agencies make a good faith effort to meet these procurement goals, which can be achieved through direct designation of prime contracts or subcontracting, supported by relevant data. Additionally, the bill requires each contracting agency to develop an annual plan in consultation with the department to achieve these goals.

Socially disadvantaged businesses are defined as those owned by individuals who belong to racial minority groups or who face personal disadvantages due to various factors such as gender, sexual orientation, or location in high-unemployment areas. Economically disadvantaged businesses are those owned by individuals whose ability to compete for State contracts is hindered by limited capital and credit opportunities, alongside a personal net worth below a specified threshold. The bill aims to enhance participation of these businesses in State contracting opportunities, thereby promoting equity and inclusion in the procurement process.

Statutes affected:
Introduced: 52:32-31.17