In this section the following words have the meanings indicated. “Nonresident bidder” means a bidder whose principal office is outside the State. “Preference” includes: a percentage preference; an employee residency requirement; or any other provision that favors a resident over a nonresident. “Resident bidder” means a bidder whose principal office is in the State. When a political subdivision or an instrumentality of government in the State uses competitive bidding to award a procurement contract, the political subdivision or instrumentality may give a preference to the resident bidder who submits the lowest responsive bid of any resident bidder if: the resident bidder is a responsible bidder; a responsible nonresident bidder submits the lowest responsive bid of all bidders; and the state in which the nonresident bidder’s principal office is located gives a preference to its residents. A preference under this section shall be identical to the preference that the state in which the nonresident bidder’s principal office is located gives to its residents.