Section 3
What is Section 3?
A state law known as Section 3 requires developers to work with local Section 3 citizens or Section 3 commercial enterprises. Their objectives include ensuring that Section 3 business concerns receive a portion of the total contract price and that 30% of any new recruits who are not already employed at the time of employment be Section 3 residents.
The region in which the project is located serves as the definition of Section 3. A company may be a Section 3 business concern in one city but not be eligible for credit when operating in another city unless they are also eligible there.
Our Service
Monthly reporting is necessary for Section 3 projects, and there are specific guidelines that must be followed the whole project time. Contractor assistance on Section 3 projects is a specialty of Cross Accounting Solutions (CAS). We can assist you whether you are a general contractor, owner/developer, or subcontractor. Our team will guide your business through this procedure and make sure you maintain complete compliance throughout the project.
Our Network
Additionally, M Squared Compliance may assist you if you need assistance locating competent subcontractors to work on Section 3 projects. We have a network of subcontractors that we have used in the past and that we are certain can handle any project, no matter how big or little, in any US region.