Senate Bill S3018

Vetoed By Governor
2017-2018 Legislative Session

Eliminates the requirement that certain minority and women-owned business enterprise owners have a personal net worth of less than three million five hundred thousand dollars in order to obtain certification

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A2819 - Vetoed by Governor

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Vetoed By Governor
  • Signed By Governor

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2017-S3018 (ACTIVE) - Details

See Assembly Version of this Bill:
A2819
Law Section:
Executive Law
Laws Affected:
Amd §314, Exec L
Versions Introduced in 2015-2016 Legislative Session:
S7865, A9774

2017-S3018 (ACTIVE) - Summary

Eliminates the requirement that certain minority and women-owned business enterprise owners have a personal net worth of less than three million five hundred thousand dollars in order to obtain certification as a certified minority and women-owned business enterprise; clarifies that an individual's net worth is to be considered in determining eligibility for certification under article 15-A of the executive law.

2017-S3018 (ACTIVE) - Sponsor Memo

2017-S3018 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3018
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 19, 2017
                                ___________
 
 Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Finance
 
 AN ACT to amend the  executive  law,  in  relation  to  eliminating  the
   requirement  that certain minority and women-owned business enterprise
   owners have a personal net worth  of  less  than  three  million  five
   hundred  thousand dollars in order to obtain certification as a quali-
   fying minority and women-owned  business  enterprise;  and  clarifying
   that  an individual's net worth is not to be considered in determining
   eligibility for certification under Article 15-A of the executive law
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subparagraphs  (v),  (vi)  and  (vii) of paragraph (a) of
 subdivision 2-a of section 314 of the executive law, as amended by chap-
 ter 175 of the laws of 2010, are amended to read as follows:
   (v) be subject to a physical site inspection to verify  the  fifty-one
 percent ownership requirement; AND
   (vi)[be  owned  by  an  individual  or  individuals,  whose ownership,
 control and operation are relied upon for certification, with a personal
 net worth that does not  exceed  three  million  five  hundred  thousand
 dollars,  as  adjusted  annually for inflation according to the consumer
 price index; and
   (vii)] be an enterprise that is a small business pursuant to  subdivi-
 sion twenty of section three hundred ten of this article.
   § 2. Notwithstanding any rule, regulation or  guideline to the contra-
 ry, the personal net worth of an individual or individuals, whose owner-
 ship, control and operation are relied upon for certification of a busi-
 ness  as  a  certified  minority  and  women-owned  business  enterprise
 pursuant to the provisions of article 15-A of the  executive  law  shall
 not  be taken into account in determining certification under such arti-
 cle.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01518-01-7

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