See note.] Purpose.
The General Assembly recognizes that the preservation and expansion of the American economic system of private enterprise is through free competition, but it also recognizes that the security and well-being brought about by such competition cannot be realized unless the actual and potential capacity of minority business enterprises, women owned businesses, and veteran owned businesses is encouraged and developed. Therefore, it is the intent of the General Assembly that the state define a “minority business enterprise,” “women owned business,” and “veteran owned business” for purposes of representation in the area of procurement of state contracts for construction, services, equipment, and goods.