IL SB3731

Increases the annual sales threshold for construction businesses to qualify as "small businesses" from $14,000,000 to $45,000,000 under the Illinois Procurement Code.

Creates a new category of "mid-size businesses" defined as construction businesses with annual sales and receipts between $45,000,000 and $67,500,000.

Grants chief procurement officers authority to designate a fair proportion of construction, supply, and service contracts as mid-size business set-asides.

Requires bid advertisements for mid-size business set-aside contracts to specify that designation and restricts contract awards to qualified mid-size business bidders only.