Bill > S05464

This bill aims to increase participation by certified minority and women-owned business enterprises (MWBEs) in state contracts and subcontracts. Key provisions include: - Requiring contracting agencies to provide quarterly reports on MWBE participation, including the number of contracts awarded, maximum dollar amounts obligated, and total expenditures. Agencies that fail to file these reports may face independent audits. - Expanding the powers of the Director of the Division of Minority and Women's Business Development to encourage MWBE participation, including by developing certification and outreach programs, enforcing compliance, and promoting joint ventures and mentor-protege relationships. - Mandating that contractors submit MWBE utilization plans when bidding on state contracts, and requiring contracting agencies to review these plans. - Allowing contractors to apply for waivers from MWBE participation requirements, while also authorizing agencies to file complaints if contractors fail to comply. - Establishing new penalties, including fines and potential bans from state contracting, for violations such as fraudulent misrepresentation of MWBE status. - Adjusting the thresholds for when performance and payment bonds can be required or waived on state contracts.