CO HB1224

Establishes a 3% state procurement goal for contracts awarded to service-disabled veteran owned small businesses, measured by dollar value across all state agencies.

Defines "service-disabled veteran owned small business" as a Colorado-based business officially registered and verified by the U.S. Department of Veterans Affairs Center for Veterans Enterprise.

Requires state agencies to obtain federal verification documentation from the U.S. Department of Veterans Affairs before awarding contracts to businesses claiming the service-disabled veteran status.

Mandates annual reporting to the Department of Military and Veterans Affairs and relevant legislative committees beginning September 30, 2015, including total contracts awarded, dollar amounts, percentages of state procurement, and the number of participating businesses by agency.

Allows state agencies to grant procurement preferences to service-disabled veteran owned small businesses to help meet the 3% goal.