Why does MDOT Require a Personal Net Worth Statement?
A. Effective July 1, 2001 , the Maryland State legislature enacted a Personal Net Worth ( PNW ) eligibility requirement to qualify as a certified Minority Business Enterprise (MBE) under the State’s program. A PNW requirement is also in effect for Federal United States Department of Transportation (USDOT) assisted contracts included under the Disadvantaged Business Enterprise (DBE) Program. The requirements for the State and Federal programs are not the same. For participation on USDOT assisted contracts, the PNW of each socially and economically disadvantaged individual who owns and controls the firm, as a part of the 51% ownership, must not exceed $750,000.00. When an individual(s) PNW exceeds the $750,000.00 threshold, the individual is no longer eligible to participate in the DBE Program. The PNW excludes the value of the MBE/DBE business and the primary residence of the MBE/DBE owner(s). The passage of HB 483 in the 2004 Session of the Maryland General Assembly requires certain mo
