Replaces everything after the enacting clause. Amends the State Comptroller Act. Creates the State Comptroller Minority Contractor Opportunity Initiative to provide greater opportunities for minority-owned businesses, female-owned businesses, businesses owned by persons with disabilities, and small businesses with 20 or fewer employees in this State to participate in the State procurement process. Provides that the initiative shall be administered by the Comptroller. Sets forth the Comptroller's duties concerning the administration of the initiative. Requires that the Comptroller annually prepare and submit a report to the Governor and the General Assembly concerning the progress of the initiative. Effective immediately.