Texas Education Code - Section 55.03. Minority-Owned And Women-Owned Businesses
Legal Research Home >
Texas Lawyer > Education Code > Texas Education Code - Section 55.03. Minority-Owned And Women-Owned Businesses
§ 55.03. MINORITY-OWNED AND WOMEN-OWNED BUSINESSES. (a)
The board of regents of each institution of higher education shall
make a good-faith effort to award to minority-owned and women-owned
businesses:
(1) contracts relating to the issuance of bonds by the
board under this chapter in the amount of at least 25 percent of the
total costs of issuing those bonds; and
(2) contracts for the items to be financed by bonds
issued by the board in the amount of at least 25 percent of the
proceeds of those bonds.
(b) Not later than October 31 of each academic year, the
board of regents shall file with the governor and each house of the
legislature a written report containing the following information
for the previous academic year for all businesses, minority-owned
businesses and women-owned businesses, classified by gender and
minority group status:
(1) the total number of contracts relating to the
issuance of bonds by the board under this chapter and to the items
to be financed by those bonds;
(2) the total dollar amount the board of regents must
pay under each contract described by Subdivision (1) of this
subsection; and
(3) the total number of businesses submitting bids or
proposals relating to the issuance of bonds by the board under this
chapter and to the items to be financed by those bonds.
(c) In this section:
(1) "Minority-owned business" means a business entity
at least 51 percent of which is owned by members of a minority group
or, in the case of a corporation, at least 51 percent of the shares
of which are owned by members of a minority group, and that is
managed and controlled by members of a minority group in its daily
operations.
(2) "Minority group" includes:
(A) African Americans;
(B) American Indians;
(C) Asian Americans; and
(D) Mexican Americans and other Americans of
Hispanic origin.
(3) "Women-owned business" means a business entity at
least 51 percent of which is owned by women or, in the case of a
corporation, at least 51 percent of the shares of which are owned by
women, and that is managed and controlled by women in its daily
operations.
Added by Acts 1993, 73rd Leg., ch. 803, § 2, eff. Sept. 1, 1993.
Section: 54.712 54.713 54.714 54.715 54.716 55.01 55.02 55.03 55.04 55.11 55.12 55.13 55.14 55.15 55.16
Last modified: August 10, 2007
|
