Minority and Women Business Enterprise bill signed into law

7/18/2019, 1:39 p.m.
The MWBE Program Extension bill sponsored by Senator James Sanders Jr. was signed into law reauthorizing reforms, and extending the ...
Small business/open sign Photo by Mike Petrucci on Unsplash

The MWBE Program Extension bill sponsored by Senator James Sanders Jr. was signed into law reauthorizing reforms, and extending the MWBE program until 2024.

The bill also enhances opportunities for MWBE prime contractors by establishing bidding credits for low-bid construction projects of up $1.4 million. It also increases the size of procurements, as well as requires contractors to make a good faith effort in order to retain an MWBE subcontractor before they are able to apply for a waiver.

Additionally, the legislation increases the personal net worth to $15 million and provides the director with the authority to set the personal net worth requirement for MWBE certification and establish new goals for the program that were the result of the 2016 disparity study.