Assembly Bill A7010

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7010
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 18, 2025
                                ___________
 
 Introduced  by  M.  of  A. SANTABARBARA -- read once and referred to the
   Committee on Governmental Operations
 
 AN ACT to amend the executive law, in relation to expanding  eligibility
   for minority participation in state contracts
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 7 of section  310  of  the  executive  law,  as
 amended  by  chapter 22 of the laws of 2014, paragraph (e) as amended by
 chapter 96 of the laws of 2019, is amended to read as follows:
   7. "Minority-owned business enterprise":
   (A) shall mean a business enterprise, including a sole proprietorship,
 partnership, 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
 such other amount as the director shall set  forth  in  regulations,  as
 adjusted annually on the first of January for inflation according to the
 consumer price index of the previous year; and
   [(f)] (VI) an enterprise that is a small business pursuant to subdivi-
 sion twenty of this section; AND
   (B) SHALL INCLUDE A BUSINESS ENTERPRISE:
   (I) THAT HAS AN EMPLOYEE STOCK OWNERSHIP PLAN; AND

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09485-01-5
              

 A. 7010                             2
 
   (II)  WHERE AT LEAST FIFTY-ONE PERCENT OF EMPLOYEES WHO PARTICIPATE IN
 SUCH EMPLOYEE STOCK OWNERSHIP PLAN ARE MINORITY GROUP MEMBERS.
   (C)  FOR  THE PURPOSES OF PARAGRAPH (B) OF THIS SUBDIVISION, "EMPLOYEE
 STOCK OWNERSHIP PLAN" SHALL MEAN AN EMPLOYEE  BENEFIT  PLAN  THAT  GIVES
 EMPLOYEES  OWNERSHIP  INTEREST  IN  A  BUSINESS IN THE FORM OF SHARES OF
 STOCK.
   § 2. This act shall take effect immediately; provided,  however,  that
 the  amendments to subdivision 7 of section 310 of executive law made by
 section one of this act shall not affect the repeal of such section  and
 shall be deemed repealed therewith.