DBE Goal Credit for Trucking
Disadvantaged Business Enterprises (DBEs) are for-profit small businesses where socially and economically disadvantaged individuals own at least a 51% interest and meet other requirements such as participating in the management of daily operations. The primary goal of the DBE program is to provide small businesses owned and operated by individuals from disadvantaged socioeconomic groups greater opportunity to compete for federally funded transportation contracts.
Accordingly, contract-specific goals for participation in furtherance of reaching its for trucking, a variety of factors are considered. One requirement that companies often overlook is that the leases for trucks must be properly filed with the Illinois Commerce Commission to receive any DBE credit . The leases must also indicate that the DBE has exclusive use of and control over the truck. Exclusive use does not preclude the DBE from subleasing a truck to others during the term of the lease, as long as the lease gives the DBE absolute priority for the use of the leased truck. In addition, leased trucks must display the name and identification number of the DBE.
It is important to be aware of all requirements when a company is pursuing DBE certification and claiming a DBE goal credit.
If you have questions or concerns regarding DBE certifications and goal credits and how it may affect you or your business, please contact the qualified attorneys at Rock Fusco & Connelly, LLC.