April 16, 2019

Bill Introduced in California to Provide Contracting Preference to ESOPs

Executive Director

California Republican Senator Scott Wilk has introduced SB-553, which would provide 100% ESOP-owned companies with a 3% bid preference on state contracts. The preference is calculated by reducing the bid by 3% of the amount of the lowest responsible bid for purposes of comparing the bid with competing bids. The bill failed on the first vote in committee on a 6-4 vote, but will be reconsidered.