SB1494 Summary

• Amends Illinois Procurement Code to establish procurement goals for service-disabled veteran-owned small businesses (SDVOSB) and veteran-owned small businesses (VOSB).

• Sets a minimum goal of 3% of total state contract dollar amounts to be awarded to SDVOSB and VOSB combined, with an additional 3% goal specifically for SDVOSB.

• Requires state agencies to report annually on VOSB and SDVOSB bidding activity and contract awards to the Department of Central Management Services, which must compile reports to the General Assembly by March 1.

• Directs the Illinois Department of Veterans' Affairs and Department of Central Management Services to establish a joint certification procedure to verify businesses qualify as legitimate SDVOSB or VOSB entities.

• Establishes penalties including suspension from state contracts for 3+ years and revocation of certification for persons committing violations related to false certification or misrepresentation of veteran business status.