HB1458: State Procurement - Small Business Reserve Program

Legislative Summary

Altering the definition of "small business" for the purposes of the Small Business Reserve Program by adding a requirement that the principal office of the business must be located in the State; increasing from 15% to 30% the minimum percentage of a unit's procurements that, to the extent practicable, are to be made directly from small businesses; and altering the intervals within which the standards and guidelines for participation in the Small Business Reserve Program are to be established to at least every 5 years.