SB 114 Summary

• Creates s. 287.0577, F.S., establishing requirements for small business participation in state contracting, defining "contract bundling" and "small business" with specific criteria including domicile in Florida for 3+ years, workforce of 50 or fewer, and annual gross sales/net worth limits.

• Requires state agencies to avoid unnecessary contract bundling and conduct market research before issuing solicitations for bundled contracts, including written summaries and analyses of the research.

• Mandates agencies award at least 35 percent of total annual contract dollars to small businesses either directly or through subcontracting, with each contract requiring vendors to use small businesses as subcontractors for at least 35 percent of the gross contract amount.

• Prohibits agencies, general contractors, and prime contractors from requiring bid bonds, performance bonds, or other sureties for contracts not exceeding $500,000.

• Requires the rules ombudsman in the Executive Office of the Governor to establish a reporting system tracking small business participation in state contracting and submit annual compliance reports to the Governor, Cabinet, and Legislature by February 1 each year.