HB43 Summary

• Amends Section 41-16-50 of the Alabama Code to define "minority-owned business enterprise" and "minority group" as those terms apply to competitive bidding requirements for governmental and educational institutions.

• Defines a minority-owned business enterprise as a business entity at least 51 percent owned by members of a minority group, with management and control by members of that group in daily operations.

• Defines "minority group" as individuals of African American, Native American, Asian, or Hispanic descent.

• Allows awarding authorities to award contracts to responsible bidders whose bids are no more than 10 percent greater than a foreign entity's lowest bid if the bidder is a minority-owned business enterprise or other protected class business located within the state.

• Becomes effective on the first day of the third month following passage and approval by the Governor.