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NY A05348
Bill
Status
2/13/2025
Primary Sponsor
Jenifer Rajkumar
Click for details
AI Summary
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Creates a streamlined verification process for minority and women-owned business enterprise (MWBE) subcontractors seeking to work with not-for-profit corporations, allowing them to bypass the full state certification process
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Requires businesses using this alternative certification to have at least 51% ownership by minorities or women who are U.S. citizens or permanent residents, with real and substantial control over day-to-day operations
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Limits eligibility to contracts where services or work cost less than $50,001
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Caps personal net worth of qualifying business owners at $15 million, adjusted annually for inflation
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Restricts use of this exemption to no more than three times per business within a 12-month period
Legislative Description
Authorizes certain business enterprise subcontractors who seek to do work with not-for-profit corporations to receive MWBE certification if certain criteria is met; imposes a $50,001 limit on the provision of such services or work; makes related provisions.
Last Action
referred to governmental operations
1/7/2026