Bill
SD 2072
Overview: Bill Number: SD 2072, Title: An Act prioritizing underserved businesses, Status: House concurred, Introduced: March 10, 2025, Classification: proposed billPurpose and Int
Overview: Bill Number: SD 2072, Title: An Act prioritizing underserved businesses, Status: House concurred, Introduced: March 10, 2025, Classification: proposed bill
Purpose and Intent: The primary goal of this legislation is to enhance state support and procurement opportunities for small businesses owned by individuals from underrepresented or disadvantaged backgrounds. The bill aims to promote greater economic equity and inclusion by directing more state contracts and resources to these underserved enterprises.
Key Provisions:
- Establishes a statewide goal of awarding at least 25% of state procurement contracts to small businesses owned by women, minorities, veterans, or individuals with disabilities
- Creates a new state office to oversee and coordinate outreach, technical assistance, and capacity-building programs for eligible small businesses
- Requires state agencies to set annual targets for contracting with underserved small businesses and report on progress
- Authorizes the use of price preferences and set-asides in the state's bidding and contracting processes to support underrepresented small businesses
Affected Parties and Impacts:
- Small businesses owned by women, minorities, veterans, and individuals with disabilities will have greater access to state procurement opportunities
- State agencies will be required to prioritize and engage with a more diverse pool of small business vendors
- Taxpayers may see increased costs associated with price preferences and set-asides, but could also benefit from a more equitable and inclusive state contracting system
Procedural and Timeline Considerations:
The bill has passed the state Senate and is currently under consideration in the House. If approved, the new small business contracting goals and support programs would be implemented within 12 months of the bill's effective date.
Compiled from official sources — confirm details with the bill’s official record.
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