MS HB1579

Department of Finance and Administration shall establish annual goals for service-connected disabled veteran-owned small business participation in state contracts and procurements.

In public contract bidding, preference shall be given to certified service-connected disabled veteran-owned small businesses if their bid price is not more than 10% greater than the lowest bid from other bidders, when quality and service are substantially equal.

Service-connected disabled veteran-owned small business is defined as an entity at least 51% owned by a service-connected disabled veteran that qualifies as a small business with fewer than 50 full-time employees and annual gross receipts not exceeding $10 million (construction) or $5 million (non-construction).

Department of Finance and Administration shall maintain a monthly updated list of all certified service-connected disabled veteran-owned small businesses, available on the department's website and in written form upon request.

Section 31-7-13 of Mississippi Code of 1972 regarding public purchasing bid requirements is brought forward with provisions relating to the new veteran-owned business preference program.