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Directs the Oregon Department of Administrative Services to establish a small business preferences program for state procurement. Specifies minimum requirements for the program and powers that the department has to implement the program. Requires the department to report to the Governor and the Legislative Assembly on the implementation of the program. Requires the department to plan for and implement a response to the recommendations of the state's 2023 disparity study with respect to public procurement. Sunsets the program on December 31, 2031. Takes effect on the 91st day following adjournment sine die.