Connecticut General Statutes 13b-20o – Set aside for contractors or subcontractors with annual gross revenues not exceeding three million dollars
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Notwithstanding any provision of the general statutes, the Department of Transportation may set aside any contract or portions thereof, or require any general or trade contractor or any other entity authorized by the department to award contracts to set aside a portion of any contract for contractors or subcontractors that had gross revenues not exceeding three million dollars in the most recently completed fiscal year prior to the contract award. Nothing in this section shall be construed to diminish the total value of contracts that are required to be set aside by the department pursuant to section 4a-60g.
Terms Used In Connecticut General Statutes 13b-20o
- Contract: A legal written agreement that becomes binding when signed.
- Department: means the Department of Transportation established pursuant to this chapter. See Connecticut General Statutes 13b-2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Transportation: means any form of transportation for persons or goods within, to or from the state, whether by highway, air, water, rail or any other means. See Connecticut General Statutes 13b-2