Relates to the definition of small business for minority group members and women with respect to state contracts

This bill changes the definition of a small business for minority and women-owned enterprises in state contracts, raising the maximum employee limit from 300 to 500. The law allows the state director to set specific employee numbers based on industry standards while ensuring businesses remain independently owned and not dominant in their field. This adjustment directly affects how many employees a company can have before it is no longer considered a small business eligible for these specific state procurement programs. The change takes effect immediately upon passage.