§ 23.35 - What role do business development and mentor-protégé programs have in the DBE program?

§ 23.35 What is the personal net worth (PNW) limit for disadvantaged owners of ACDBEs?

(a

role do business development and mentor-protégé programs have in the DBE program?

(a) An owner whose PNW exceeds $2,047,000 is not presumed economically disadvantaged.

(b) The Department will adjust the PNW cap by May 9,

2024

2027 by multiplying $1,600,000 by the growth in total household net worth since 2019 as described by “Financial Accounts of the United States: Balance Sheet of Households (Supplementary Table B.101.h)” produced by the Board of Governors of the Federal Reserve (https://www.federalreserve.gov/releases/z1/), and normalized by the total number of households as collected by the Census in “Families and Living Arrangements” (https://www.census.gov/topics/families/families-and-households.html) to account for population growth. The Department will adjust the PNW cap every 3 years on the anniversary of the

initial

adjustment date described in this section. The Department will post the adjustments on the Departmental Office of Civil Rights' web page, available at https://www.Transportation.gov/DBEPNW. Each such adjustment will become the currently applicable PNW limit for purposes of this regulation.

(

b

c) The Department will use

the following

formula 1 to this paragraph (c) to adjust the PNW limit:

Formula 1 to Paragraph (c)

[89 FR 24961, Apr. 955088, July 3, 2024]