(a) The procurement commission is authorized to adopt rules and regulations establishing criteria and standards for minority-owned businesses, woman-owned businesses, service-disabled veteran-owned businesses, businesses owned by persons with disabilities, and small businesses that are eligible to be included under this part. The rules and regulations must include methods by which eligibility can be verified and the business deemed certified.
Terms Used In Tennessee Code 12-3-1103
Procurement: means buying, purchasing, renting, leasing, or otherwise acquiring of any goods or services. See Tennessee Code 12-3-201
Small business: means a business that is a continuing, independent, for profit business which performs a commercially useful function with residence in this state and has total gross receipts of not more than ten million dollars ($10,000,000) averaged over a three-year period or employs no more than ninety-nine (99) persons on a full-time basis. See Tennessee Code 12-3-1102
(b) Such criteria and standards for eligibility shall include, but not be limited to, the number of employees, the total gross receipts or annual sales volume, including ownership and control.(c) The maximum number of employees and the maximum dollar value of a small business under such rules and regulations may vary from industry to industry to the extent necessary to reflect the differing characteristics of any relevant factors of each particular industry.(d) The governor’s office of diversity business enterprises shall implement and administer a certification program and publish a directory of businesses certified as small businesses and diversity business enterprises.(e) Any business desiring to be certified as a small business or diversity business enterprise shall make application to the governor’s office of diversity business enterprises on an application as prescribed by such office.
