US DOT's Interim Final Rule and The Effects on Your DBE Certification

US DOT's Interim Final Rule and The Effects on Your DBE Certification

By IDOT Supportive Services
Online event

Overview

Get the inside scoop on IDOT DBE certification and how to level up your business opportunities in the industry!

Participants will learn about the Interim Final Rule (IFR) the United States Department of Transportation (USDOT) issued which updated regulations that impact DBE certification by eliminating the presumption that firm owners are socially and economically disadvantaged based on their race or gender. Under the new rules that USDOT states are effective immediately, the Illinois Unified Certification Program (“ILUCP”) is required to reevaluate the disadvantaged status of all currently certified DBE firms to determine whether they can be recertified under the new rule. Until this reevaluation is completed for the ILUCP, contract goals may not be set. In order to complete the reevaluation as quickly as possible and resume operation of the DBE program, owners of all DBE firms must provide a personal narrative to demonstrate that a majority of the owners of the firm are socially and economically disadvantaged individuals. To complete this requirement and be recertified as a DBE firm, each of the socially and economically disadvantaged owners of your firm must submit a Personal Narrative and Personal Net Worth Statement to their host agency as soon as possible.

Category: Business, Finance

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Highlights

  • 2 hours
  • Online

Location

Online event

Organized by

IDOT Supportive Services

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Hosting

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Free
Dec 4 · 8:00 AM PST