Establishing Public/Private Small Business Enhancement Program

SB 12 establishes a program requiring West Virginia state agencies to set aside 25% of their contract spending for small businesses starting in 2027. It defines a "small business" as having 250 or fewer employees or $10 million in average annual revenue, excluding businesses controlled by larger entities. Agencies must reserve contracts under $150,000 exclusively for small businesses (if competitively bid at fair value) and require two small business bids for contracts between $150,000 and $700,000. Additionally, small businesses awarded contracts must perform at least 30% of work themselves and ensure 50% is done by eligible small businesses, with restrictions on subcontracting with affiliated entities.