Establishes the "Procurement Protection Act"

This bill establishes the Procurement Protection Act to restrict state agencies and local governments from contracting with companies linked to specific foreign adversaries, including China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria. It defines prohibited entities as those owned or controlled by these countries, state-owned enterprises from them, or corporations already banned by federal agencies for national security concerns. To enforce these rules, the law requires bidders to certify they have not recently done business with these restricted entities and mandates that any goods produced by them are ineligible for state contracts unless no other option exists and the risk is deemed lower than the threat of the item itself. Companies found to have submitted false certifications face heavy fines, immediate contract termination, and a six-year ban from bidding on state projects. Additionally, the bill requires bidders to disclose any past business dealings with these foreign adversaries or their entities within the last two years.