California Public Utilities Code 8286 – (a) In order to facilitate the participation of women, minority, …
(a) In order to facilitate the participation of women, minority, disabled veteran, and LGBT business enterprises and small businesses in contract procurement, any corporation subject to this article may consider the following measures to include those businesses in all phases of their contracting:
(1) Timely or progressive payments to those businesses.
Terms Used In California Public Utilities Code 8286
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2) An amendment of the performance bond requirements so that bond requirements of electrical, gas, and telephone corporations do not prohibitively burden those businesses from procuring the corporation’s business.
(3) The provision of assistance to those businesses by securing contract payments to those businesses with letters of credit, negotiable securities, or other financing arrangements or measures.
(b) This section does not restrict a corporation’s ability to require a bond.
(Amended by Stats. 2022, Ch. 703, Sec. 8. (SB 599) Effective January 1, 2023.)