PROCUREMENT PROTECTION ACT

Creates the Procurement Protection Act. Provides that a company domiciled within the jurisdiction of a foreign adversary or a federally banned corporation shall be ineligible to bid or submit a proposal for contracts with the State. Provides that each bid or offer submitted for a contract with a State agency or political subdivision shall include a disclosure of whether or not the bidder, offeror, or any of its corporate parents or subsidiaries, within the 24 months before submission of the bid or offer, had business operations that involved contracts with or the provision of supplies or services from or to any foreign adversary, any state-owned enterprise of a foreign adversary, or any company domiciled within the jurisdiction of a foreign adversary. Provides that a bid or offer that does not include the disclosure required by these provisions may be given an opportunity to cure nondisclosure. Allows a chief procurement officer to consider the disclosure when evaluating a bid or offer or awarding athe contract. Sets forth exceptions to the general provisions. Defines terms. Effective immediately.