HB 2196 - DIGEST |
Requires the department to develop a procedure for certifying businesses owned by veterans with disabilities and maintain a list of businesses owned by veterans with disabilities on the department's public web site. To be certified by the department, the business must meet all the following requirements: (1) It is a sole proprietorship at least fifty-one percent owned by one or more veterans with disabilities or, in the case of a publicly owned business, at least fifty-one percent of its stock is owned by one or more veterans with disabilities; a subsidiary that is wholly owned by a parent corporation, but only if at least fifty-one percent of the voting stock of the parent corporation is owned by one or more veterans with disabilities; or a joint venture in which at least fifty-one percent of the joint venture's management, control, and earnings are held by one or more veterans with disabilities; |
(2) The management and control of the daily business operations are by one or more veterans with disabilities. The veterans with disabilities who exercise management and control are not required to be the same veterans with disabilities as the owners of the business; |
(3) It is a sole proprietorship, corporation, or partnership with its home office located in the United States, which is not a branch or subsidiary of a foreign corporation, foreign firm, or other foreign-based business. |
Requires the department to report to the legislature by December 1, 2009, and December 1st of each odd-numbered year thereafter outlining the progress made in implementing this act. |