Public procurement laws; exempt certain purchases and contracts for landmark buildings from for certain time.

Creates a new exemption allowing the Department of Finance and Administration to bypass standard public purchasing requirements when purchasing renovation, repair, restoration, or improvement services for buildings designated as both National Historic Landmarks and Mississippi Landmarks.

Sets a sunset date of June 30, 2028 for the historical building procurement exemption, meaning this special purchasing authority will expire on that date unless renewed by legislation.

Establishes a new Public Procurement Review Board composed of five appointed members (three by Governor, two by Lieutenant Governor) to approve purchasing regulations, review contracts, and oversee procurement processes for state agencies.

Requires reverse auctions to be the primary method for receiving bids on purchases over $75,000, with exceptions that must be approved by the Public Procurement Review Board.

Adds numerous new exemptions from competitive bidding requirements for specific purchases including prison industry products, multichannel interactive video systems, certain school district purchases, and disaster cleanup services.

Modifies emergency purchase procedures to require that emergency purchases must be for purposes meeting needs created by the emergency situation, with documentation required after the emergency purchase.

Provides detailed definitions for 'minority business' for set-aside procurement programs, specifying criteria for Asian, Black, Hispanic, and Native American ownership.

Establishes penalties for attempting to circumvent competitive bidding requirements, including fines of $500-$1,000 or imprisonment for 30 days for splitting invoices to avoid bidding thresholds.