Recently the Biden-Harris Administration and the United States Department of Transportation issued a Notice of Proposed Rulemaking, looking to modernize Disadvantaged Business Enterprise (DBE) program requirements and regulations. The press release and proposed new rules, along with how to comment, can be found here.

Among the proposed changes are long-awaited increases to the Personal Net Worth limit from $1.32 million to $1.6 million and the exclusion of retirement assets. There are also changes to simply many of the processes, including interstate certification.

Written comments to the proposed new regulations must be submitted by September 19, 2022.

A summary of the proposed changes can be found here.

I will review the proposed changes in more detail in upcoming blogs in the near future.