Illinois HB3655 amends procurement laws to enhance support for small businesses in state contracts.
HB3655 modifies the Department of Commerce and Economic Opportunity Law to establish a small business financing program offering low-interest loans to small businesses securing state contracts. It also amends the Illinois Procurement Code to set aside a fair proportion of annual contracts for small businesses, with a minimum of 25% for construction contracts. The bill mandates the creation of a small business scorecard by the Department of Central Management Services to assess bids from businesses with annual gross sales under $15,000,000.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.