Bill Text: NY S07865 | 2015-2016 | General Assembly | Introduced

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Bill Title: Eliminates the requirement that certain minority and women-owned business enterprise owners have a personal net worth of less than three million five hundred thousand dollars in order to obtain certification as a certified minority and women-owned business enterprise; clarifies that an individual's net worth is to be considered in determining eligibility for certification under article 15-A of the executive law.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2016-05-18 - REFERRED TO FINANCE [S07865 Detail]

Download: New_York-2015-S07865-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          7865
                    IN SENATE
                                      May 18, 2016
                                       ___________
        Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Finance
        AN ACT to amend the  executive  law,  in  relation  to  eliminating  the
          requirement  that certain minority and women-owned business enterprise
          owners have a personal net worth  of  less  than  three  million  five
          hundred  thousand dollars in order to obtain certification as a quali-
          fying minority and women-owned  business  enterprise;  and  clarifying
          that  an individual's net worth is not to be considered in determining
          eligibility for certification under Article 15-A of the executive law
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Subparagraphs  (v),  (vi)  and  (vii) of paragraph (a) of
     2  subdivision 2-a of section 314 of the executive law, as amended by chap-
     3  ter 175 of the laws of 2010, are amended to read as follows:
     4    (v) be subject to a physical site inspection to verify  the  fifty-one
     5  percent ownership requirement; and
     6    (vi)[be  owned  by  an  individual  or  individuals,  whose ownership,
     7  control and operation are relied upon for certification, with a personal
     8  net worth that does not  exceed  three  million  five  hundred  thousand
     9  dollars,  as  adjusted  annually for inflation according to the consumer
    10  price index; and
    11    (vii)] be an enterprise that is a small business pursuant to  subdivi-
    12  sion twenty of section three hundred ten of this article.
    13    § 2. Notwithstanding any rule, regulation or  guideline to the contra-
    14  ry, the personal net worth of an individual or individuals, whose owner-
    15  ship, control and operation are relied upon for certification of a busi-
    16  ness  as  a  certified  minority  and  women-owned  business  enterprise
    17  pursuant to the provisions of article 15-A of the  executive  law  shall
    18  not  be taken into account in determining certification under such arti-
    19  cle.
    20    § 3. This act shall take effect immediately; provided,  however,  that
    21  the  amendments  to section 314 of the executive law made by section one
    22  of this act shall not affect the expiration of such section and shall be
    23  deemed expired therewith.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14801-02-6