Bill > HB863

This bill, known as the "Georgia Small Business Set-Aside Act," establishes a program requiring state agencies to make a concerted effort to allocate at least 20 percent of their annual procurement contracts to Georgia-based small businesses. A "small business" is defined as a company that is independently owned and operated, with fewer than 50 employees or less than $10 million in annual gross receipts. The Department of Administrative Services will administer this "set-aside program," which reserves certain procurement opportunities exclusively for these certified small businesses. To participate, businesses must be certified by the department based on criteria like size, revenue, and operational capacity, and the department will maintain a directory of these certified businesses. State agencies will be required to report annually on the value of contracts awarded to small businesses under this program, and those failing to meet the 20 percent goal must submit a corrective action plan. The department is also tasked with creating rules and regulations to implement the act and providing resources to help small businesses engage with state procurement opportunities.