Small Business and Supplier Diversity, Department of; redefines 'small business.' (SB1369)

Introduced By

Sen. Mark Obenshain (R-Harrisonburg) with support from co-patrons Sen. Creigh Deeds (D-Bath), Sen. Emmett Hanger (R-Mount Solon), Sen. Bryce Reeves (R-Spotsylvania), and Sen. Bill Stanley (R-Moneta)

Description

Department of Small Business and Supplier Diversity; definitions; small business. Redefines "small business" for the purpose of programs for the Department of Small Business and Supplier Diversity to allow a cooperative association organized pursuant to Chapter 3 (Cooperative Associations) of Title 13.1 as a nonstock corporation to qualify as a small business if it is at least 51 percent independently controlled by one or more members who are U.S. citizens or legal resident aliens and, together with affiliates, has 250 or fewer employees or average annual gross receipts of $10 million or less averaged over the previous three years. The bill also redefines "small business" for the purpose of programs for the Virginia Public Procurement Act to allow a cooperative association organized pursuant to Chapter 3 (Cooperative Associations) of Title 13.1 as a nonstock corporation to qualify as a small business if it is controlled by one or more members who are U.S. citizens or legal resident aliens and, together with affiliates, has 250 or fewer employees or average annual gross receipts of $10 million or less averaged over the previous three years. Read the Bill »

Status

08/05/2021: Awaiting a Vote in the Appropriations Committee

History