Bill > HB198

This bill, known as the Historically Underutilized Business Opportunity Act, aims to stimulate economic development and job creation by promoting full and equal business opportunities for all businesses. It encourages and sets goals for the use of historically underutilized businesses (HUBs) by state agencies in public purchasing decisions. HUBs are defined as for-profit businesses with an average annual gross revenue of up to $5 million or an average of 50 employees, that are at least 51% owned by women or members of certain minority groups. The bill outlines duties for the General Services Department, such as certifying HUBs, and for state agencies, which must establish agency-specific goals for utilizing HUBs and make good-faith efforts to contract with them directly or through subcontracts.

Business and Industry, Justice, Labor and Employment, Transportation and Infrastructure

https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=198&year=17