SB1592: Small Business and Supplier Diversity, Department of; certification of a small business.
Be it enacted by the General Assembly of Virginia:
1. § 1. That the Director of the Department of Small Business and Supplier Diversity (the Director) shall amend its regulation regarding the certification of businesses as any subcategory of small businesses established as part of an enhancement or remedial measure authorized by the Governor pursuant to subsection C of § 2.2-4310 to provide that a business that is certified as any subcategory of small business pursuant to the small business certification program administered by the Director pursuant to subdivision 8 of § 2.2-1606 may be certified using full-time equivalents to determine number of employees.
Be it enacted by the General Assembly of Virginia:
1. § 1. That the Director of the Department of Small
Business and Supplier Diversity (the Director) shall amend its regulation
regarding the certification of businesses as [ micro small
] businesses [ and any subcategory of small businesses established as part
of an enhancement or remedial measure authorized by the Governor pursuant to
subsection C of § 2.2-4310 ] to provide that a business that is
certified as a small business [ or any subcategory of small business
] pursuant to the small business certification program administered by the
Director pursuant to subdivision 8 of § 2.2-1606 may be certified [ as
a micro business if it, together with its affiliates, has 25 or fewer full-time
equivalents and average annual gross receipts of $3 million or less averaged
over the previous three years using full-time equivalents to
determine number of employees ] .
SENATE BILL NO. 1592
Be it enacted by the General Assembly of Virginia:
1. § 1. That the Director of the Department of Small Business and Supplier Diversity (the Director) shall amend its regulation regarding the certification of businesses as micro businesses to provide that a business that is certified as a small business pursuant to the small business certification program administered by the Director pursuant to subdivision 8 of § 2.2-1606 may be certified as a micro business if it, together with its affiliates, has 25 or fewer full-time equivalents and average annual gross receipts of $3 million or less averaged over the previous three years.