Relating to contract preferences in public procurement for employee-owned businesses; prescribing an effective date.
Catchline/Summary:
Adds entities in which employees of the entity own at least 50 percent of the ownership interest in the entity directly or through an employee stock ownership plan to the list of sources to which a contracting agency may give preference in procuring goods or services for public contracts. Digest: Lets state agencies that buy goods or services prefer doing so from businesses owned by their employees. (Flesch Readability Score: 60.1).
Adds entities in which employees of the entity own at least 50 percent of the ownership interest in the entity directly or through an employee stock ownership plan to the list of sources to which a contracting agency may give preference in procuring goods or services for public contracts.
Takes effect on the 91st day following adjournment sine die.
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HB 3646 Senate Committee On Labor and Business
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