MN HF68

Increases state procurement preference from 6 percent to 12 percent for small targeted group businesses, veteran-owned small businesses, and businesses in economically disadvantaged areas.

Doubles the direct contract award threshold from $25,000 to $50,000 for small businesses and veteran-owned small businesses without competitive solicitation.

Allows the commissioner to set subcontracting goals for prime contractors on construction and professional/technical service contracts, with financial incentives for exceeding goals and penalties for failing to meet them.

Requires the commissioner of veterans affairs to verify veteran status before certifying a small business as majority-owned and operated by a veteran.

Changes become effective the day following final enactment for all contracts entered into on or after that date.