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This entry was published on 2023-04-07
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Minority and women-owned business enterprise fund
State Finance (STF) CHAPTER 56, ARTICLE 6
§ 97-k. Minority and women-owned business enterprise fund. 1. There is
hereby established in the joint custody of the state comptroller and the
commissioner of taxation and finance a special fund to be known as the
"minority and women-owned business enterprise fund".

2. Such funds shall consist of all moneys appropriated for the purpose
of such fund, all moneys transferred or paid to such fund pursuant to
law, including pursuant to section three hundred sixteen of the
executive law, and contributions consisting of grants, including grants
or other financial assistance from any agency of government and all
moneys required by the provisions of this section or any other law to be
paid into or credited to this fund.

3. Monies of the fund, following appropriation by the legislature,
shall be expended by the appropriate New York state offices, agencies,
or authorities to acquire software, employ personnel to audit,
investigate and prosecute minority and women-owned business enterprise
fraud and to underwrite minority and women-owned business enterprise
programs to assist minority and women business enterprise owners to
develop sustainable businesses, provided that expenditures for such
activities shall only be required under this section to the extent that
monies are available in the fund to support them.