Bill > SB1408

This bill establishes a new bid-preference program for eligible new corporations in Oklahoma state government contracting. Specifically, an "eligible new corporation" is defined as a corporation that has been in operation for fewer than five years and is validly licensed in the state. The State Purchasing Director is required to create and implement a program that tracks the percentage of state funds spent with these new corporations, with a target of at least 10%. If the current spending falls below 10%, the program allows eligible new corporations to receive a price percentage adjustment when bidding on state contracts. Under this mechanism, if an eligible new corporation submits a bid that is lower than the lowest bid plus the percentage adjustment, that new corporation will be awarded the contract. The bill is set to become effective on November 1, 2026, and is designed to be codified in Title 74, Section 85.49 of the Oklahoma Statutes. This approach aims to support and provide opportunities for newer businesses in state procurement processes by giving them a competitive advantage in bidding.

Labor and Employment

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1408&Session=2600