1. (a) In this section, “percentage preference” means the percent of the lowest responsive bid submitted by a responsible bidder who is not a small business by which a responsive bid by a small business may:

   1. (1) exceed the lowest bid; and
   2. (2) be awarded a procurement contract under this subtitle.

2. (b) Subject to the approval of the Board, each unit:

   1. (1) shall establish a percentage preference, not to exceed 8%, for each industry as follows:

      1. (i) a base percentage preference not to exceed 5% for all small businesses; and

      2. (ii) two additional preferences to the percentage preference set forth in item (i) of this paragraph as follows:

         1. 1. 2% for veteran-owned small businesses; and
         2. 2. 3% for disabled veteran-owned small businesses; and
   2. (2) may vary the percentage preference determined in item (1)(i) of this subsection among industries to account for their particular characteristics.

Added by Acts 1988, c. 48, § 2, eff. Oct. 1, 1988. Amended by Acts 1988, c. 246, § 4, eff. July 1, 1988; Acts 1989, c. 5, § 9, eff. March 9, 1989; Acts 1997, c. 114, § 1, eff. July 1, 1997; Acts 2008, c. 695, § 1, eff. July 1, 2008; Acts 2024, c. 653, § 1, eff. Oct. 1, 2024.