IN HB1417

Authorizes political subdivisions to designate public works projects as small construction business set-asides, restricting solicitations to only small construction businesses.

Establishes a general definition of "small construction business" as independently owned, not dominant in its field, and meeting additional criteria adopted by political subdivisions.

Requires political subdivisions adopting rules to establish qualifications for small construction businesses, with mandatory thresholds of maximum $4 million average annual receipts over three years and maximum 100 employees.

Provides special qualification for veteran-owned Indiana small businesses with current federal verification, majority veteran ownership, and principal place of business in Indiana.

Effective July 1, 2014, with contract awards to the lowest responsible and responsive small construction business bidder, and authority to reject all offers if prices are unreasonable.