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Supervisors continue debate on benefit-corporation bid preference; seek regional scope and sunset
Summary
The committee accepted an amendment of the whole to narrow a proposed bid preference for California benefit corporations, added protections for LBEs and nonprofits, and agreed to continue the ordinance for one week to draft regional definitions and a three-year sunset.
The Budget and Finance subcommittee continued for further refinement a proposed ordinance that would give a limited bid preference to California benefit corporations on certain city contracts.
Supervisor London N. Chu (President) presented a substantially revised version that narrowed eligibility, reduced the proposed discount to 4%, limited application to contracts under $10 million, required a beneficiary to have held benefit-corp status at the California Secretary of State for at least six months, and gave the Human Rights Commission an enforcement and verification…
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