PEER; authorize to monitor certain contracts for economic development projects to ensure fair minority contract participation.

HB 740 authorizes Mississippi's Joint Legislative Committee on Performance Evaluation and Expenditure Review (PEER) to monitor all economic development contracts funded with tax dollars. It requires the committee to evaluate whether minority contractor participation is "fair and equitable" by reviewing bid processes, contract awards, bid requirements, and bonding rules. The bill directly affects state agencies, contractors, and minority businesses involved in tax-funded economic development projects. The committee must assess these contracts to ensure compliance with fair participation standards, without creating new requirements for contractors.