New York A 7010: Expands eligibility for minority-owned business enterprise participation for state contracts

Bill Text

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A07010 Summary:

BILL NOA07010 

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SAME ASNo Same As

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SPONSORSantabarbara

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COSPNSR

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MLTSPNSR

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Amd §310, Exec L

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Expands eligibility for minority-owned business enterprise participation for state contracts to include businesses with employee stock ownership plans.

Go to top A07010 Actions:

BILL NOA07010 

&nbsp

03/18/2025referred to governmental operations

01/07/2026referred to governmental operations

Go to topA07010 Committee&nbspVotes:

Go to topA07010 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA07010 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7010

 2025-2026 Regular Sessions

 IN ASSEMBLY

 March 18, 2025
 ___________

 Introduced by M. of A. SANTABARBARA -- read once and referred to the
 Committee on Governmental Operations

 AN ACT to amend the executive law, in relation to expanding eligibility
 for minority participation in state contracts

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 7 of section 310 of the executive law, as
 2 amended by chapter 22 of the laws of 2014, paragraph (e) as amended by
 3 chapter 96 of the laws of 2019, is amended to read as follows:
 4 7. "Minority-owned business enterprise":
 5 (a) shall mean a business enterprise, including a sole proprietorship,
 6 partnership, limited liability company or corporation that is:
 7 [(a)] (i) at least fifty-one percent owned by one or more minority
 8 group members;
 9 [(b)] (ii) an enterprise in which such minority ownership is real,
 10 substantial and continuing;
 11 [(c)] (iii) an enterprise in which such minority ownership has and
 12 exercises the authority to control independently the day-to-day business
 13 decisions of the enterprise;
 14 [(d)] (iv) an enterprise authorized to do business in this state and
 15 independently owned and operated;
 16 [(e)] (v) an enterprise owned by an individual or individuals, whose
 17 ownership, control and operation are relied upon for certification, with
 18 a personal net worth that does not exceed fifteen million dollars, and
 19 such other amount as the director shall set forth in regulations, as
 20 adjusted annually on the first of January for inflation according to the
 21 consumer price index of the previous year; and
 22 [(f)] (vi) an enterprise that is a small business pursuant to subdivi-
 23 sion twenty of this section; and
 24 (b) shall include a business enterprise:
 25 (i) that has an employee stock ownership plan; and

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09485-01-5

 A. 7010 2

 1 (ii) where at least fifty-one percent of employees who participate in
 2 such employee stock ownership plan are minority group members.
 3 (c) For the purposes of paragraph (b) of this subdivision, "employee
 4 stock ownership plan" shall mean an employee benefit plan that gives
 5 employees ownership interest in a business in the form of shares of
 6 stock.
 7 § 2. This act shall take effect immediately; provided, however, that
 8 the amendments to subdivision 7 of section 310 of executive law made by
 9 section one of this act shall not affect the repeal of such section and
 10 shall be deemed repealed therewith.

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