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NY A07114
Bill
Status
3/20/2025
Primary Sponsor
Rodneyse Bichotte Hermelyn
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AI Summary
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Eliminates the $15 million personal net worth cap for owners seeking minority and women-owned business enterprise (MWBE) certification
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Establishes new eligibility criteria requiring businesses to have received $60 million or more in state or city funding from contracts over the past three years (excluding subcontractor payments) and to have exceeded SBA size standards for three years before losing certification
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Redefines "small business" to align with U.S. Small Business Administration size standards for each industry, removing the previous 300-employee cap
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Repeals the statutory definition of "personal net worth" from the executive law
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Takes effect 90 days after becoming law, with amendments expiring alongside Article 15-A of the executive law
Legislative Description
Relates to criteria for certification by the division of minority and women's business development of MWBE status; replaces the personal net worth limitation with a requirement that a business have been awarded contracts by one or more agencies within the past three years where the total state funding received by the enterprise from the expense and capital budgets for such contracts was equal to or greater than sixty million dollars.
Last Action
referred to governmental operations
1/7/2026