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Source : Contractor News
December 28, 2020
Author : Kristy Casanova
The US Department of Transportation (DOT) has announced it will increase the cap of gross receipts on eligibility for businesses to qualify for participation in its Disadvantaged Business Enterprise (DBE) program.
The increase on the cap only applies to federal-aid highway and transit programs under the DOT. In 2018, the gross receipts cap was completed for work on airport projects and programs. Other types of projects are subject to size limits monitored by the Small Business Administration, in which they can determine eligibility for its own programs.
At the moment, in order to remain eligible, DBEs must have gross receipts for three years that cannot surpass $23.98 million. After the change, which will take into effect on January 13, 2021, the cap will be raised to $26.29 million.
Read more at https://www.govinfo.gov/content/pkg/FR-2020-12-14/pdf/2020-26549.pdf