MS HB673

Amends Section 31-7-13 of Mississippi Code to require agencies and governing authorities to set aside not less than 30% of anticipated annual commodity purchase expenditures for minority-owned, woman-owned, veteran-owned, and disadvantaged businesses.

Allocates the 30% set-aside as follows: 10% for minority-owned businesses, 10% for veteran-owned businesses, 5% for woman-owned businesses, and 5% for disadvantaged businesses.

Defines eligible business categories by ownership demographics, including Asian, Black, Hispanic, or Native American owners for minority-owned businesses, and socially and economically disadvantaged individuals per the Small Business Act for disadvantaged businesses.

Set-aside purchases must comply with all existing purchasing regulations and competitive bidding requirements, with awards made to the lowest and best bidder within each designated business category.

Takes effect July 1, 2021.