SB1174 provides bid preferences for ESOP contractors in state-funded construction contracts.
SB1174 mandates the California Department of Transportation to offer bid preferences to contractors with Employee Stock Ownership Plans (ESOP) in state-funded construction contracts. The preference varies based on the ESOP ownership percentage, ranging from 2 to 4 percent of the bid value. Additional preferences apply if the ESOP contractor is a signatory to a collective bargaining agreement.
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