LA HB764

Establishes statewide MBE/DBE participation goals for state contracts: 30% overall by FY 2031-2032, with interim targets of 15% (FY 2028-29), 20% (FY 2029-30), and 25% (FY 2030-31)

Sets contract-specific minimum goals: 25% for construction contracts over $50,000, 30% for professional services contracts over $25,000, and 20% for goods and supplies procurement

Requires each state agency to designate an MBE/DBE compliance officer, maintain a certified business database, conduct outreach at least 60 days before soliciting bids over $50,000, and report quarterly on participation rates

Imposes sanctions on non-compliant agencies (corrective action plans, mandatory training, enhanced oversight) and prime contractors (withholding final payment, disqualification from contracting for 1-3 years, attorney general referral)

Mandates the Division of Administration commission an independent disparity study by July 1, 2027, and every five years thereafter, with annual participation reports published by January 1 each year