The secretary of administration, with the assistance of the director of purchases, shall submit a report prior to the regular session of the legislature to the governor, the legislature and the secretary of economic development, indicating the estimated total dollar value of contracts let to small businesses and the estimated number of small businesses who received contracts in the preceding state fiscal year, based upon historical data. This report shall include: (a) The total dollar value estimated to have been expended on contracts with small businesses and the estimated number of transactions this represents; and (b) the actual total dollar value expended on contracts with minority businesses and women-owned businesses, and the actual number of transactions this represents.
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