Section 22O. Notwithstanding any general or special law to the contrary relating to procurement, and to the extent permitted by federal law, a state agency or authority shall establish a preference for the procurement of products or services from businesses, as defined in section 3A of chapter 23A, with their principal place of business in the commonwealth. In addition, the operational services division shall endeavor to ensure that in any fiscal year no less than 15 per cent of statewide procurement contracts are entered into with businesses, as so defined, which: (i) are independently owned and operated; (ii) have a principal place of business in the commonwealth; (iii) have been in business for at least 1 year; and (iv) are defined as a small business under applicable federal law or are defined by the division as small businesses pursuant to the small business purchasing program.

Terms Used In Massachusetts General Laws ch. 7 sec. 22O

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.