As used in this chapter, the following definitions apply:
(a) “Awarding department” means any agency, department, constitutional officer, governmental entity, or other officer or entity of the state empowered by law to issue bonds on behalf of the State of California.
(b) “Bonds” means bonds, notes, warrants, certificates of participation, and other evidences of indebtedness issued by or on behalf of the State of California.
(c) “Contract” includes any contract, agreement, or joint agreement to provide professional bond services to the State of California or an awarding department.
(d) “Contractor” means any provider of professional bond services who enters into a contract with an awarding department.
(e) “Foreign corporation,” “foreign firm,” or “foreign-based business” means a business entity that is incorporated or has its principal headquarters located outside the United States.
(f) “Goal” means a numerically expressed objective that awarding departments and providers of professional bond services are required to make efforts to achieve.
(g) “Management and control” means effective and demonstrable management of the business entity.
(h) “Minority” means an ethnic person of color including American Indians, Asians (including, but not limited to, Chinese, Japanese, Koreans, Pacific Islanders, Samoans, and Southeast Asians), Blacks, Filipinos, and Hispanics. A minority must be a citizen of the United States or a lawfully admitted permanent resident as defined in Title 8 U.S.C. 1101(a)(20).
(i) “Minority business enterprise” means a business concern that meets all of the following requirements:
(1) A sole proprietorship owned by a minority; a firm or partnership, at least 51 percent of the voting stock or partnership interests of which are owned by one or more minorities; a subsidiary which is wholly owned by a parent corporation but only if at least 51 percent of the voting stock of the parent corporation is owned by one or more minorities; or a joint venture in which at least 51 percent of the joint venture’s management of the joint venture business and at least 51 percent of the joint venture’s earnings are controlled or retained by the minority participants in the joint venture.
(2) Management and control of daily business operations by one or more minorities although not necessarily the same minorities who are owners of the business.
(3) A sole proprietorship, corporation, joint venture, or partnership with its home office located in the United States, which is not a branch or subsidiary of a foreign corporation, foreign firm, or other foreign-based business.
(j) “Professional bond services” include services as financial advisers, bond counsel, underwriters in negotiated transactions, underwriter’s counsel, financial printers, feasibility consultants, and other professional services related to the issuance and sale of bonds.
(k) A woman owner of a women business enterprise must be a citizen of the United States or a lawfully admitted permanent resident as defined in Title 8 U.S.C. 1101(a)(20).
“Women business enterprise” means a business concern that is all of the following:
(1) A sole proprietorship owned by a woman; a firm or partnership, at least 51 percent of the voting stock or partnership interests of which are owned by one or more women; a subsidiary which is wholly owned by a parent corporation but only if at least 51 percent of the voting stock of the parent corporation is owned by one or more women; or a joint venture in which at least 51 percent of the joint venture’s management of the joint venture business and at least 51 percent of the joint venture’s earnings are controlled or retained by the women participants in the joint venture.
(2) Management and control of daily business operations by one or more women although not necessarily the same women who are the owners of the business.
(3) A sole proprietorship, corporation, joint venture, or partnership with its home office located in the United States, which is not a branch or subsidiary of a foreign corporation, foreign firm, or other foreign-based business.
(l) “Minority business enterprise” and “women business enterprise,” include an enterprise of which 50 percent is owned and controlled by one or more minorities and the other 50 percent is owned and controlled by one or more women, or, in the case of a publicly owned business, 50 percent of the stock of which is owned and controlled by one or more minorities and the other 50 percent is owned and controlled by one or more women. Any business enterprise so defined may be counted as either a minority business enterprise or a women business enterprise for purposes of meeting the participation goals, but no one such business enterprise shall be counted as meeting the participation goals in both categories.
(Amended by Stats. 1991, Ch. 1021, Sec. 1.)
Last modified: October 25, 2018