MS SB2746

State agencies must file copies of all contracts with small or minority businesses to the Mississippi Development Authority by July 15 each year for the previous fiscal year.

Small business is defined as a commercial enterprise with fewer than 100 full-time employees, less than $2,000,000 in net worth, or less than $350,000 in net annual profit after taxes.

Minority business is defined as a business majority-owned by U.S. citizens or permanent resident aliens who are Asian, Black, Hispanic, or Native American.

State agencies must also file a statement showing the total value of contracts with small or minority businesses and the percentage these contracts represent of all agency contracts.

The Mississippi Development Authority shall prepare an annual report on small and minority business participation in state contracts and file it with the Secretary of the Senate and Clerk of the House by December 31 each year.