Assembly Bill A9774

2015-2016 Legislative Session

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

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-A9774 (ACTIVE) - Details

See Senate Version of this Bill:
S7865
Current Committee:
Assembly Governmental Operations
Law Section:
Executive Law
Laws Affected:
Amd §314, Exec L
Versions Introduced in 2017-2018 Legislative Session:
A2819, S3018, S7243

2015-A9774 (ACTIVE) - Summary

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.

2015-A9774 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9774

                          I N  A S S E M B L Y

                              April 7, 2016
                               ___________

Introduced by M. of A. BICHOTTE -- read once and referred to the Commit-
  tee on Governmental Operations

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:

  Section 1. Subparagraphs (v), (vi)  and  (vii)  of  paragraph  (a)  of
subdivision 2-a of section 314 of the executive law, as amended by chap-
ter 175 of the laws of 2010, are amended to read as follows:
  (v)  be  subject to a physical site inspection to verify the fifty-one
percent ownership requirement; AND
  (vi)[be owned  by  an  individual  or  individuals,  whose  ownership,
control and operation are relied upon for certification, with a personal
net  worth  that  does  not  exceed  three million five hundred thousand
dollars, as adjusted annually for inflation according  to  the  consumer
price index; and
  (vii)]  be an enterprise that is a small business pursuant to subdivi-
sion twenty of section three hundred ten of this article.
  S 2. Notwithstanding any rule, regulation or  guideline to the contra-
ry, the personal net worth of an individual or individuals, whose owner-
ship, control and operation are relied upon for certification of a busi-
ness  as  a  certified  minority  and  women-owned  business  enterprise
pursuant  to  the  provisions of article 15-A of the executive law shall
not be taken into account in determining certification under such  arti-
cle.
  S  3.  This act shall take effect immediately; provided, however, that
the amendments to section 314 of the executive law made by  section  one
of this act shall not affect the expiration of such section and shall be
deemed expired therewith.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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