Bill
Bill > A07114
NY A07114
NY A07114Relates to criteria for certification by the division of minority and women's business development of MWBE status; replaces the personal net worth limitation with a requirement that a business have been awarded contracts by one or more agencies within the past three years where the total state funding received by the enterprise from the expense and capital budgets for such contracts was equal to or greater than sixty million dollars.
summary
Introduced
03/20/2025
03/20/2025
In Committee
03/20/2025
03/20/2025
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend the executive law, in relation to criteria for certification by the division of minority and women's business development of minority and women-owned business enterprise status; and to repeal subdivision 19 of section 310 of such law relating to the definition of personal net worth
AI Summary
This bill modifies the criteria for certifying Minority and Women-owned Business Enterprises (MWBEs) in New York State by replacing the existing personal net worth limitation with a new requirement. Instead of having a net worth cap of $15 million, businesses must now demonstrate that they have been awarded contracts by state or city agencies within the past three years totaling at least $60 million in state or city funding. The bill also updates the definition of a "small business" to align with United States Small Business Administration (SBA) size standards for each industry. These changes aim to provide a more comprehensive and dynamic method of determining MWBE eligibility by focusing on recent contract performance and industry-specific size metrics rather than solely on an owner's personal net worth. The new criteria will help ensure that certified businesses are actively engaged in significant state and local government contracting and remain competitive within their respective industries. The bill will take effect 90 days after becoming law, and the changes will be in effect until the expiration of Article 15-A of the executive law.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
referred to governmental operations (on 03/20/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2025/A7114 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A07114&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A07114 |
Loading...