Benefit Corporation Ordinance – Legislative Digest
- 4% bid discount for California Benefit Corporation for contracts under $10M
- CMD verifies Benefit Corporation status with California Secretary of State
- No aggregation or combining of existing bid discounts
- Benefit Corporations my not adversely impact the award process of a bid submitted by a LBE or SBA-LBE, San Francisco businesses or regional businesses
- Benefit Corporation must be incorporated for at least 6 months
- Prohibit application of the bid discount to subsidiary of non-Benefit Corps
- CMD and Controller conduct biannual evaluation on the impact of Benefit Corps discount
- The operative date Benefit Corporation legislation November 2013
Currently 112 Benefit Corporations certified by the California Secretary of State