This bill mandates the Chief Diversity Officer in the New Jersey Department of Treasury to collaborate with the Business Action Center and the New Jersey Economic Development Authority to conduct regular outreach events, training workshops, seminars, and educational programs. These initiatives aim to promote awareness, access, and utilization of certified minority-owned and women-owned businesses in State contracting and subcontracting. The programs will be offered both virtually and throughout the State, targeting internal and external stakeholders as well as the general public.

Furthermore, the bill emphasizes the importance of providing technical, managerial, and financial training to certified business enterprises. This includes assistance in areas such as marketing, personnel skill development, project management, technology, and financing. The intent is to ensure that minority and women-owned businesses have the necessary resources and support to thrive in the competitive landscape of State contracting. The act is set to take effect immediately upon passage.