Bill > S06374

This bill amends the New York State executive law to expand the definition of a "small business" by increasing the maximum number of employees from 300 to 500, while maintaining other existing criteria. Specifically, the bill defines a small business as an independently owned and operated business with a significant presence in the state, which is not dominant in its field and employs up to 500 employees who work at least 30 hours per week over 52 weeks, totaling 1,560 hours. The definition takes into account federal Small Business Administration (SBA) standards and allows for some flexibility, such as permitting employees to have breaks in employment up to 13 weeks without resetting the 52-week lookback period. This change is likely designed to help more businesses qualify for minority and women-owned business enterprise (MWBE) programs and state contract opportunities by broadening the definition of a small business. The bill will take effect immediately, and the amendments are considered part of the existing article of the executive law.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S6374