VA HB61

Establishes the Small SWaM Business Procurement Enhancement Program with a goal of 42% utilization rate for small, women-owned, minority-owned, and service disabled veteran-owned businesses in state procurement, including a 5% target specifically for microbusinesses.

Creates a Division of Procurement Enhancement within the Department of Small Business and Supplier Diversity to implement the program and collaborate with state agencies and public institutions of higher education.

Sets aside purchases between $10,000 and $200,000 for small SWaM businesses and purchases up to $10,000 for microbusinesses, with both categories eligible for a price preference of up to 5% over non-certified competitors.

Requires executive branch agencies and covered institutions to increase SWaM business utilization rates by 3% annually starting July 1, 2026, and establishes a 50% subcontracting goal for capital construction projects when the prime contractor is not a SWaM business.

Mandates disparity studies every five years to evaluate availability versus utilization of women-owned and minority-owned businesses, with annual reports to the Governor and General Assembly on program implementation due by November 30 each year.