(a)  The state’s annual goal for veteran-owned small business enterprises to participate in state procurements shall be no less than three percent (3%) of the total value of all contracts available to businesses in each fiscal year. The director of the department of administration is authorized and directed to establish by rules and regulations formulas for giving veteran-owned small business enterprises a preference in all procurements and public works projects and in contract and subcontract awards.

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Terms Used In Rhode Island General Laws 37-14.3-4

  • Compliance: means the condition existing when a contractor has met and implemented the requirements of this chapter. See Rhode Island General Laws 37-14.3-3
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.

(b)  The director of the department of administration is further authorized to establish, by rules and regulations adopted in accordance with chapter 35 of Title 42, compliance formulas, procedures for implementation, and procedures for enforcement.

History of Section.
P.L. 2017, ch. 116, § 1; P.L. 2017, ch. 136, § 1.