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Why does the DBE program require a Personal Net Worth Statement?

April 26, 2017dbe NET program require worth

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Why does the DBE program require a Personal Net Worth Statement?

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Effective fiscal year July 1, 2000 – June 30, 2001, the U. S. Department of Transportation (USDOT) Disadvantaged Business Enterprise (DBE) program has added a new requirement for qualifying as a DBE; the personal net worth (PNW) of each minority individual who owns and controls the firm as a part of the 51 % minority ownership must be less than $750,000.00. When an individual’s personal net worth exceeds the $750,000.00 threshold, the individual is no longer eligible to participate in the Federal DBE Program. DBE business owners may decide not to provide a PNW and not be considered a DBE for USDOT assisted contracts. The PNW excludes the value of the DBE business and the personal residence of the DBE owner(s).