This bill mandates that State agencies, along with the Director of the Division of Purchase and Property and the Director of the Division of Property Management and Construction, make a good faith effort to increase the awarding of contracts for goods and services, which are procured without advertisement, to certified minority-owned and women-owned businesses by 30 percent within five years of the bill's effective date. To facilitate this goal, the State Treasurer is tasked with developing guidelines and directives that comply with State and federal law. Additionally, the bill establishes a reporting structure where each State agency must submit a report to the State Treasurer every 30 days detailing their efforts, while the State Treasurer will provide a comprehensive report to the Governor and Legislature every six months.

The bill also includes specific amendments to existing laws, such as increasing the purchasing authority limits for contracts without advertisement, which will rise from $150,000 to $200,000 on January 1, 2023, and to $250,000 on January 1, 2024. Furthermore, it replaces the term "Building" with "Property Management and Construction" in relevant sections. The overall aim of the bill is to enhance opportunities for minority- and women-owned businesses in State procurement processes, thereby promoting diversity and inclusion in government contracting.

Statutes affected:
Introduced: 52:34-7