Raised Bill No. 862 Summary

• Grants veteran-owned businesses a 10% price preference in state contract awards, or 15% for veteran-owned micro businesses (defined as gross revenues not exceeding $3 million).

• Requires state agencies to set aside 5% of all contracts annually for competitive award to veteran-owned contractors for construction, highways, and goods/services purchases.

• Defines "veteran" as anyone honorably discharged from active service in the armed forces or with a qualifying condition receiving discharge other than bad conduct or dishonorable discharge.

• Requires Commissioner of Administrative Services to establish certification process for veteran-owned contractors by January 1, 2020, with certifications valid for up to two years.

• All provisions take effect October 1, 2019, with amendments to Connecticut General Statutes sections governing state contracting procedures, small business set-asides, and reporting requirements.