New law aims to help small busi­nesses

Lodi News-Sentinel - - Business -

SACRA­MENTO — A greater num­ber of Cal­i­for­nia small busi­nesses will be el­i­gi­ble to par­tic­i­pate in the state’s small busi­ness con­tract­ing pro­gram un­der a new law au­thored by State Sen. Cath­leen Gal­giani.

Ap­proved Wed­nes­day by Gover­nor Jerry Brown, S.B. 605 in­creases the an­nual in­come limit from $10 mil­lion to $36 mil­lion for small busi­nesses bid­ding on pub­lic works projects.

For all other state con­tracts for goods and ser­vices, the rev­enue limit was statu­to­rily in­creased from $10 mil­lion to $15 mil­lion for small busi­nesses and from $2.5 mil­lion to $5 mil­lion for mi­crobusi­nesses.

Small and mi­cro-busi­nesses must be in­de­pen­dently owned and op­er­ated, must not dom­i­nate in a field of op­er­a­tion, must have a prin­ci­pal of­fice lo­cated in Cal­i­for­nia, and own­ers must live in Cal­i­for­nia.

The new law will go into ef­fect in 2019.

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