DOT has released Official FAQs on DBE Program Regulations. These questions and answers provide guidance and information for compliance with the provisions under 49 CFR part 26. Like all guidance material, these questions and answers are not, in themselves, legally binding or mandatory, and do not constitute regulations.
If the owner of a DBE or ACDBE certified firm or applicant firm has a personal net worth of less than $1,320,000, does that necessarily mean that the recipient must regard the owner as being economically disadvantaged? Section 26.67(b)(2)
Does a recipient simply accept an owner’s PNW statement? Should the recipient investigate? Section 26.67(a)
A PNW statement is a signed representation to a DOT recipient that the information presented is true. Falsification can lead to criminal prosecution. Recipients should first review a PNW statement to determine whether the individual’s PNW is more than $1,320,000.
In calculating personal net worth, how should retirement savings be counted? (Section 26.67(a)(2)(iii)(d))
The basic principle in counting assets in the personal net worth calculation is to count the present value of assets attributable to the individual.
In calculating personal net worth, how should assets held by spouses in joint or community property be counted?