SB22-163: State Procurement Equity Program

• Establishes the State Procurement Equity Program in the Department of Personnel to reduce disparities in state procurement affecting historically underutilized businesses, including minority-owned, women-owned, and disability-owned businesses.

• Requires the Department to provide real-time solicitation assistance through a help desk during business hours and create a bond assistance program to offset surety bond costs for small historically underutilized businesses seeking state contracts.

• Appropriates $2 million to a bond assistance program cash fund (effective July 1, 2022) and $2,007,707 for fiscal year 2022-23 to support program implementation with 4.6 additional FTE.

• Mandates convening a stakeholder group by November 1, 2023, comprising representatives of historically underutilized businesses, government agencies, and procurement experts to recommend remedial measures and provide implementation timeline and resource estimates.

• Requires the Department to report to the General Assembly by January 2025 on preliminary implementation progress, stakeholder recommendations, and any needed related legislation.