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2019 SESSION

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SB 1098 Small Business and Supplier Diversity, Department of; redefines "small business."

Introduced by: David W. Marsden | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

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.


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