Small Business and Supplier Diversity, Department of; redefines 'small business.' (SB1098)

Introduced By

Sen. Dave Marsden (D-Burke)

Description

Department of Small Business and Supplier Diversity; definitions; small business. Redefines "small business" for the purposes of programs for the Department of Small Business and Supplier Diversity and the Virginia Public Procurement Act to mean a business that together with its affiliates has both 250 or fewer employees and average annual gross receipts of $10 million or less averaged over the previous three years. The bill provides that gross receipts shall not include the cost of goods and equipment. Currently, under these programs, a business qualifies as a small business if, together with its affiliates, it has either 250 or fewer employees or average annual gross receipts of $10 million or less averaged over the previous three years. Read the Bill »

Outcome

History