Establishes Public/Private Small Business Enhancement Program to encourage small business development and growth.

The bill establishes the Public/Private Small Business Enhancement Program within the Purchasing Division to encourage small business development and growth. It mandates that at least 25 percent of the total value of contracts let by state agencies in each fiscal year be set aside for small businesses. Contracts below $150,000 are exclusively for small businesses if they bid competitively and perform at fair market value. Contracts between $150,000 and $700,000 are set aside for small businesses if two or more bid.

Establishes Public/Private Small Business Enhancement Program to encourage small business development and growth.

The bill establishes the Public/Private Small Business Enhancement Program within the Purchasing Division to encourage small business development and growth. It mandates that at least 25 percent of the total value of contracts let by state agencies in each fiscal year be set aside for small businesses. Contracts below $150,000 are exclusively for small businesses if they bid competitively and perform at fair market value. Contracts between $150,000 and $700,000 are set aside for small businesses if two or more bid.