Illinois SB3287 amends the Illinois Procurement Code to redefine small business size standards for various industries.
Illinois SB3287 amends the Illinois Procurement Code to redefine small business size standards for various industries. It specifies that no manufacturing business is a small business if it employs more than the number set by the U.S. Small Business Administration. Additionally, it sets limits on annual sales and receipts for wholesale, retail, and construction businesses to qualify as small businesses. The bill also mandates annual reporting to the General Assembly on contracts awarded to small businesses and requires the creation of a list of potential small contractors.
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