ASSEMBLY COMMUNITY DEVELOPMENT AND WOMEN'S AFFAIRS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4721

STATE OF NEW JERSEY

DATED:  SEPTEMBER 23, 2024

      The Assembly Community Development and Women's Affairs Committee reports favorably Assembly Bill No. 4721.

This bill requires the Department of the Treasury to prepare and submit to the Governor and to the Legislature updates to the New Jersey Disparity Study every five years, beginning with January 1, 2029.  The New Jersey Disparity Study, issued in January 2024, studied the availability and utilization of small, minority, women, and service-disabled veteran-owned businesses.

      Under the bill, the updates will include changes in the availability and utilization of these businesses in State procurement.