Resident Veteran Business Preference definition

Resident Veteran Business Preference means a business that has a valid resident veteran business certificate issued by the New Mexico Taxation and Revenue Department pursuant to §13-1-22 NMSA 1978.

Resident Veteran Business Preference means the preference described in Section 13-1-21 NMSA 1978, as currently enacted or hereinafter amended.

Resident Veteran Business Preference. To receive a Resident Veteran Business Preference pursuant to Section 13-1-22 NMSA 1978 the Bidder must submit with its bid, a copy of a valid Resident Veteran Business certificate issued by the New Mexico Department of Taxation and Revenue. If a Bidder submits a copy of a valid Resident Veteran Business certificate with its bid, the bid shall be ten (10) percent lower than the bid actually received. Certification by the New Mexico Department of Taxation and Revenue for the resident veteran business requires the Bidder to provide evidence including, but not limited to, of gross revenues of up to three million dollars ($3,000,000) in the preceding tax year. A resident veteran business shall not benefit from the preference pursuant to this section for more than ten consecutive years. A person that is an owner of a business that is a resident veteran business shall not benefit from the preference pursuant to this section for more than ten consecutive years. A person shall not benefit from the provisions of this section based on more than one business concurrently. A Bidder may not receive both the resident business preference and the resident veteran business preference. Local Preference: Local preference is not applicable.

Examples of Resident Veteran Business Preference in a sentence

• New Mexico Resident Veteran Business Preference: New Mexico law, Section 13-1-22 NMSA 1978, provides a preference in the award of a public works contract for a “resident veteran business”.

• Note: Neither the Resident Business Preference nor the Resident Veteran Business Preference can be awarded for any project/contract if it includes federal funds.

• Resident Business Preference or Resident Veteran Business Preference (required by House Bill 93, 2016):Points will be awarded based on Offeror’s ability to provide a copy of a current Resident Business certificate or Resident Veteran Business certificate.

• For the Offeror to receive a ResidentVeteran Business Preference, the business shall complete, sign, and include with the proposal the attached certification form, along with a copy of a valid Resident Veteran Business Preference certificate issued by the New Mexico Taxation & Revenue Department.

• A 5% Small Business Preference, a 5% Local Business Preference, a 5% State Resident Business Preference, a 5% Pay Equity Preference and/or a 5% State Resident Veteran Business Preference (collectively the latter two, “State Preference”) are available for this procurement.

• However, Resident Veteran Businesses can still receive the Resident Business Preference once the Resident Veteran Business Preference cap is exceeded.Example: An RFP has a total value of 1,000 points.

• Copy of New Mexico Resident Bidder or Resident Veterans Certificate – Offeror MUST include a copy of their New Mexico Resident Business or New Mexico Resident Veteran Business Certificate for purposes of receiving the New Mexico Resident Business or New Mexico Resident Veteran Business Preference, if applicable.

• Points awarded to an Offeror for Resident Business Preference or Resident Veteran Business Preference (required by Senate Bill 1, 2011) are based on total possible points as indicated above and are added to the total score awarded to that Offeror.

• The District shall not award a business both a Resident Business Preference and a Resident Veteran Business Preference.

• Resident Veteran Businesses with annual revenues of more than $5M are to receive a 7% preference on their proposals.The 7%, 8%, or 10%, as indicated above, will be to the total points received for the Evaluation Criteria (page 11).The Resident Veteran Business Preference is separate from the Resident Business Preference and is not cumulative with that preference.