Allows for in-state suppliers to receive preference in certain situations when the state is awarding contracts

S 1432 requires state agencies to give preference to "existing in-state suppliers" when awarding contracts for goods or services. An in-state supplier (defined as an entity doing most business within the state) can match the lowest bid from a non-in-state supplier, provided their cost is no more than 15% higher. If the in-state supplier matches the bid, the state agency may choose to award the contract to them instead. This bill directly affects state agencies purchasing goods/services and in-state businesses seeking state contracts. It modifies the existing process for awarding state contracts to prioritize local economic impact.