PROCUREMENT PROTECTION ACT

Creates the Procurement Protection Act of 2024. Provides that a company domiciled within the jurisdiction of foreign adversary or a federally banned corporation shall be ineligible to bid or submit a proposal for contracts with the State. Provides that each bid or offer submitted for a contract with a State agency or political subdivision shall include a disclosure of whether or not the bidder, offeror, or any of its corporate parents or subsidiaries, within the 24 months before submission of the bid or offer, had business operations that involved contracts with or provision of supplies or services from or to any foreign adversary, state-owned enterprise of a foreign adversary, or a company domiciled within the jurisdiction of a foreign adversary. Provides that a bid or offer that does not include the disclosure required by the provisions may be given a period after the bid or offer is submitted to cure non-disclosure. Allows a chief procurement officer to consider the disclosure when evaluating the bid or offer or awarding the contract. Sets forth exceptions to the general provisions. Defines terms. Effective immediately.