(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) exceed the lowest bid; and
(2) be awarded a procurement contract under this subtitle.
(b) Subject to the approval of the Board, each unit:
(1) shall establish a percentage preference, not to exceed 8%, for each industry as follows:
(i) a base percentage preference not to exceed 5% for all small businesses; and
(ii) two additional preferences to the percentage preference set forth in item (i) of this paragraph as follows:
1. 2% for veteran–owned small businesses; and
2. 3% for disabled veteran–owned small businesses; and
(2) may vary the percentage preference determined in item (1)(i) of this subsection among industries to account for their particular characteristics.