Assembly Bill A7050

2023-2024 Legislative Session

Authorizes not-for-profit corporation inclusion as minority and women-owned enterprises

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Archive: Last Bill Status - In Assembly Committee


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

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2023-A7050 (ACTIVE) - Details

Current Committee:
Assembly Governmental Operations
Law Section:
Executive Law
Laws Affected:
Amd §§310 & 314, Exec L
Versions Introduced in 2025-2026 Legislative Session:
A4256

2023-A7050 (ACTIVE) - Summary

Authorizes not-for-profit corporation inclusion as minority and women-owned enterprises.

2023-A7050 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7050
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 10, 2023
                                ___________
 
 Introduced  by  M.  of  A.  CUNNINGHAM  -- read once and referred to the
   Committee on Governmental Operations
 
 AN ACT to amend the executive law, in relation to  authorizing  not-for-
   profit corporation inclusion as minority and women-owned enterprises
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivisions 1, 7 and 15  of section 310 of  the  executive
 law, subdivision 1 as added by chapter 261 of the laws of 1988, subdivi-
 sions  7  and 15 as amended by chapter 22 of the laws of 2014, paragraph
 (e) of subdivision 7 and paragraph (e) of subdivision 15 as  amended  by
 chapter  96  of the laws of 2019, and paragraph (a) of subdivision 15 as
 amended by chapter 669 of the laws of  2022,  are  amended  to  read  as
 follows:
   1. "Certified business" shall mean a business OR NOT-FOR-PROFIT CORPO-
 RATION  verified as a minority or women-owned business enterprise pursu-
 ant to section three hundred fourteen of this article.
   7. "Minority-owned business enterprise" shall mean:
   (A) a business enterprise, including a sole  proprietorship,  partner-
 ship, limited liability company or corporation that is:
   [(a)]  (I)  at  least  fifty-one percent owned by one or more minority
 group members;
   [(b)] (II) an enterprise in which such  minority  ownership  is  real,
 substantial and continuing;
   [(c)]  (III)  an  enterprise  in which such minority ownership has and
 exercises the authority to control independently the day-to-day business
 decisions of the enterprise;
   [(d)] (IV) an enterprise authorized to do business in this  state  and
 independently owned and operated;
   [(e)]  (V)  an enterprise 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 fifteen million  dollars,  and

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10966-01-3
              

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