NJ A4465

Establishes a State contract set-aside program requiring contracting agencies to award at least 22% of their contracts to union business enterprises, administered by the Department of Treasury.

Defines "union business enterprise" as a business with a union workforce, principal place of business in New Jersey, that hires apprentices and demonstrates good faith effort to maintain a diverse workforce.

Allows contracting agencies to designate contracts or portions of contracts as union business enterprise set-asides when at least three qualified union businesses can provide goods, equipment, construction, or services at fair and reasonable prices.

Requires the Department of Treasury to maintain lists of designated union business enterprises, establish procedures for businesses to request inclusion, and conduct annual reviews of eligibility.

Imposes penalties on businesses that fraudulently obtain union business enterprise designation, including repayment of cost differences, fines up to 10% of contract value, and ineligibility to conduct State business for 3-24 months.