Creates provisions relating to veteran preferences for contracts
The legislation proposes to modify existing statutes regarding preference in contracts related to state and local government entities. By repealing the current section and enacting two new sections, HB714 delineates clear definitions and criteria for what constitutes a veteran-owned enterprise. This will potentially increase the number of contracts awarded to these entities, thereby driving economic development among veteran-owned businesses within the state.
House Bill 714 aims to enhance the opportunities for veteran-owned businesses, specifically those owned by honorably discharged veterans and service-disabled veterans, in the bidding process for state contracts. The bill establishes a three-point bonus preference for these businesses when agencies, departments, and institutions of the state are letting contracts for services. This initiative seeks to support veterans in successfully competing for government contracts in Missouri, thereby providing them with greater economic opportunities.
While the intent of the bill is to support veterans, there may be concerns about the implementation and effectiveness of the proposed bonus system. Critics might argue that attributing a three-point bonus may not adequately address the inherent challenges smaller veteran-owned businesses face in competing against larger firms. Additionally, there may be questions regarding the sufficiency of available veteran-owned businesses in Missouri to meet the set goal of allocating three percent of all applicable contracts to these entities.