SB1821 Summary

• Increases the annual gross sales threshold for "qualified veteran-owned small business" (VOSB) from $75,000,000 to $150,000,000, as evidenced by federal income tax returns.

• Maintains the 3% goal for State contracts to be awarded to service-disabled veteran-owned small businesses (SDVOSB) and veteran-owned small businesses (VOSB).

• Requires the Commission on Equity and Inclusion to conduct minimum 2 outreach events per year and submit annual reports on veteran business certifications, obstacles to certification, and awarded contracts.

• Establishes penalties including suspension from bidding on State contracts for not less than 3 years and revocation of certification for those committing violations related to misrepresenting veteran business status.

• Transfers powers, duties, and responsibilities related to veteran-owned business certification from the Department of Central Management Services to the Commission on Equity and Inclusion.