Requires that certain contracts let by the office of general services be reserved for small businesses, including minority-owned business enterprises and women-owned business enterprises.
Requires that public contracts be divided by size into large, medium, small and micro contracts for the purpose of increasing opportunities for small businesses, including minority-owned business enterprises and women-owned business enterprises, to participate in state contracts.
Requires contractors receiving public funds to pay amounts owed to small businesses and minority-owned business enterprises within 10 days of receipt of an undisputed invoice generated by a small business, minority-owned business enterprise or vendor management service and managed service provider on behalf of the small business or minority-owned business enterprise.
Requires contractors receiving public funds to pay amounts owed to small businesses and minority-owned business enterprises within 10 days of receipt of an undisputed invoice generated by a small business, minority-owned business enterprise or vendor management service and managed service provider on behalf of the small business or minority-owned business enterprise.
House Study Committee on Minority Business Enterprises, Women Owned Businesses, and Veteran Owned Businesses in State Contracting; create
Increases the minimum required awarded to minority business enterprises from 15% to 20% and of that, requires a minimum of 10% be awarded to minority owned businesses and a minimum of 10% be awarded to women owned businesses.
Establishes minority youth-owned business enterprises in the state of New York and the city of New York; creates certain contracting opportunities for members of minority youth-owned business enterprises; establishes an implementation program and oversight committee for minority youth-owned business enterprises.
Relates to requiring that the annual report from the division of minority and women's business development contain information on the annual minority and women-owned business enterprise utilization and expenditure categorized by minority-owned enterprises, women-owned enterprises, and total utilization and expenditure, and be organized by certain industry categories.
Relates to requiring that the annual report from the division of minority and women's business development contain information on the annual minority and women-owned business enterprise utilization and expenditure categorized by minority-owned enterprises, women-owned enterprises, and total utilization and expenditure, and be organized by certain industry categories.
Enacts the lift our communities advertise locally (LOCAL) program which provides a tax credit on advertising for locally owned minority-owned and women-owned business enterprises, certified service-disabled veteran-owned business enterprises or a small business.