Small business contracting requirements and requiring report to the legislature of compliance modification

This bill modifies small business contracting rules for the Metropolitan Council and related Minnesota state agencies, primarily affecting how these entities award contracts to small businesses. It allows agencies to give preference awards to small targeted group and veteran-owned businesses, set subcontracting goals for prime contractors, and award contracts directly to these businesses without competitive bidding under certain conditions. The legislation also requires prime contractors to pay subcontractors within ten days of receiving payment and mandates a legislative report on compliance with these new requirements.