MI SB0502

Replaces preference for Michigan-based firms with a 10% contract value preference for Michigan businesses with products made, manufactured, or grown in the state.

Grants qualified disabled veterans a preference of up to 10% of contract value, with lowest-bidding qualified disabled veteran receiving the contract if preference makes them competitive.

Establishes a goal for the state to award at least 5% of annual expenditures for construction, goods, and services to qualified disabled veterans, with annual reporting to the legislature on progress.

Defines "qualified disabled veteran" as a business entity 51% or more owned by veterans with service-connected disabilities as defined in 38 USC 101(16).

Requires the department to solicit competitive bids from the private sector whenever practicable and allows exceptions for emergency situations, public health/safety threats, and declared states of emergency.