HB764

Establishes the La. State Contract Minority Business Opportunity Act to increase minority-owned and disadvantaged business participation in state.

The La. State Contract Minority Business Opportunity Act aims to increase participation by minority-owned and disadvantaged business enterprises (MBE/DBE) in state contracts. It sets participation goals for state agencies, requiring a minimum of 30% of total annual dollar value of state contracts to be awarded to or performed by certified MBE/DBEs by Fiscal Year 2031-2032. Specific goals include 30% for goods and supplies procurement, 25% for construction contracts exceeding $50,000, and 30% for professional services contracts exceeding $25,000.