1. If the Purchasing Division determines that a business has made a material misrepresentation or otherwise committed a fraudulent act in applying for the preference described in NRS 333.3366, the business is thereafter permanently prohibited from:
(a) Applying for or receiving the preference described in NRS 333.3366; and
(b) Bidding on a state purchasing contract.
2. If the Purchasing Division determines, as described in subsection 1, that a business has made a material misrepresentation or otherwise committed a fraudulent act in applying for the preference described in NRS 333.3366, the business may apply to the Administrator to review the decision pursuant to chapter 233B of NRS.