Bill > A10180

This bill aims to increase participation by certified minority and women-owned business enterprises (MWBEs) in state contracts and subcontracts. The key provisions are: 1. Requires state contracting agencies to submit quarterly reports on MWBE participation, including the number of state contracts awarded to certified MWBEs, the maximum dollar amounts obligated, and total expenditures. Agencies that fail to submit these reports on time will be subject to an independent audit at their own cost. 2. Empowers the Director of the Division of Minority and Women's Business Development to implement penalties, such as fines and temporary bans from state contracting, for entities that repeatedly violate MWBE participation requirements. 3. Encourages joint ventures, partnerships, and mentor-protege relationships between prime contractors and MWBEs to increase MWBE participation. 4. Allows for the waiver of performance and payment bond requirements for state contracts awarded to small businesses or certified MWBEs under certain thresholds, to facilitate MWBE participation. 5. Expands the reporting requirements for state agencies that have let more than $2 million in service and construction contracts to include "state assisted project contracts" such as those involving state financing for housing, economic development, higher education, and healthcare projects.