Majority Passes the 2010 Business Diversification Act; the New York State MWBE Asset Management and Financial Institution Strategy Act and Secures Budget Reform to Ensure MWBEs Get Fair Access to Capital for Expansion
(Albany, NY) The Senate Democratic Majority, promoting new opportunities for the business growth and expansion of minority and women-owned business enterprises (MWBE), has passed a legislative package (S8314, S8313, S8312) which will:
· Ensure fairness in the contract awarding process for minority-owned and women-owned businesses.
· Require more stringent reporting requirements for agencies and prime contractors.
Governor David A. Paterson signed four ground-breaking bills into law, including legislation that will establish a level playing field for Minority and Women-Owned Business Enterprises (MWBEs) in New York State. Three of the bills were Governor’s Program Bills.