HI HB1996

Establishes a goal that at least 3 percent of the State's annual purchasing expenditures be awarded to veteran-owned businesses.

Provides a 4.5 percent procurement preference for goods or services from veteran-owned businesses and a 5 percent preference for service-disabled veteran-owned businesses in state contracts.

Defines "veteran" as a person who served in active duty military (Army, Navy, Air Force, Marines, or Coast Guard) and was discharged under conditions other than dishonorable.

Defines "veteran-owned business" as a business entity that is 51 percent or more owned by a veteran, and "service disabled" as a veteran with a service-connected disability incurred in active duty.

Requires the Department of Accounting and General Services to report to the legislature by 20 days before the 2016 regular session on procurement awards to veteran-owned businesses and compliance with the 3 percent goal.