Bill > S08284

This bill establishes a comprehensive framework for promoting diversity and local economic development in businesses that receive state funding or operate on state-owned land. The legislation creates a State Division of Post-Construction Commitments and Compliance, which will develop rules requiring operating businesses to meet specific goals for employing and contracting with minority-owned businesses (15%), women-owned businesses (15%), service-disabled veteran-owned businesses (6%), small businesses (10%), and microbusinesses (5%). Businesses with a state investment of $1 million or more must also ensure that at least 25% of their workforce comes from disadvantaged zip codes and provide living wages, unless they have a union agreement. The bill further mandates a community grant program where businesses must allocate at least 5% of their state investment to local community development projects. A five-member Post-Construction Compliance Review Board will be established to quarterly assess businesses' compliance, with potential penalties for non-compliance including withholding state funds, prohibiting future state funding, and seeking liquidated damages. The goal is to create more economic opportunities for underrepresented businesses and local communities while ensuring accountability for businesses benefiting from state investments.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S8284