Requires that public contracts be divided by size into large, medium, small and micro contracts for the purpose of increasing opportunities for small businesses, including minority-owned business enterprises and women-owned business enterprises, to participate in state contracts.
Increases the state discretionary buying threshold without a formal competitive process for certain commodities from certain businesses, including construction services.
Relates to provisions governing contracting between state agencies and not-for-profit organizations including new, renewal, and extension contracts and advance payments and interest for such contracts; repeals provisions relating to interest payments.
Requires contractors receiving public funds to pay amounts owed to small businesses and minority-owned business enterprises within 10 days of receipt of an undisputed invoice generated by a small business, minority-owned business enterprise or vendor management service and managed service provider on behalf of the small business or minority-owned business enterprise.