Maryland SB232 establishes procurement preferences for historically underutilized business zone businesses.

Maryland SB232 creates a new subtitle for historically underutilized business zone businesses, defining them as businesses meeting specific criteria. The bill sets goals for the percentage of procurement contracts awarded to these businesses, increasing from 1% in 2026 and 2027 to 3% in 2029 and beyond. It mandates the Governor’s Office of Small, Minority, and Women Business Affairs to establish a certification process and a percentage price preference for these businesses, consistent with federal standards.

Maryland SB232 establishes procurement preferences for historically underutilized business zone businesses.

Maryland SB232 creates a new subtitle for historically underutilized business zone businesses, defining them as businesses meeting specific criteria. The bill sets goals for the percentage of procurement contracts awarded to these businesses, increasing from 1% in 2026 and 2027 to 3% in 2029 and beyond. It mandates the Governor’s Office of Small, Minority, and Women Business Affairs to establish a certification process and a percentage price preference for these businesses, consistent with federal standards.