Amends the Business Enterprise for Minorities, Women, and Persons with Disabilities Act. Provides that not less than 40% of the total dollar amount of State contracts shall be established as an aspirational goal to be awarded to businesses owned by minorities. Provides that of the total amount of all State contracts awarded to businesses owned by minorities, contracts representing at least 20% shall be awarded to businesses owned by black or African American persons. Removes provisions allowing for a waiver from contract goals established under the Act. Requires the return of specified funds for failing to accomplish contract goals established under the Act. Makes conforming changes.