NY State Senate Bill 2017-S7243A

Senate Bill S7243A

2017-2018 Legislative Session

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Archive: Last Bill Status - In Senate Committee Finance 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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Mar 08, 2018	print number 7243a
Mar 08, 2018	amend (t) and recommit to finance
Jan 05, 2018	referred to finance

Bill Amendments

Original

A (Active)

2017-S7243 - Details

See Assembly Version of this Bill:: A9631
Current Committee:: Senate Finance
Law Section:: Executive Law
Laws Affected:: Amd §§314 & 310, rpld §310 sub 19, Exec L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S7865
2019-2020: A2987

2017-S7243 - 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.

2017-S7243 - Sponsor Memo

                                
 
BILL NUMBER: S7243

SPONSOR: RITCHIE
 
TITLE OF BILL:  An act to amend the executive law, in relation to
eliminating the requirement that certain minority and women-owned busi-
ness enterprise owners have a personal net worth of less than three
million five hundred thousand dollars in order to obtain certification
as a qualifying minority and women-owned business enterprise; and clari-
fying that an individual's net worth is not to be considered in deter-
mining eligibility for certification under Article 15-A of the executive
law

 
PURPOSE:

To eliminate the requirement that certain minority and women-owned busi-
ness enterprise owners have a personal net worth of less than three
million five hundred thousand dollars in order to obtain certification.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1 amends § 314 of the Executive Law removing the requirement

that designated minority and women-owned business enterprises be owned
by an individual or individuals, whose personal net worth does not
exceed $3.5 million.

Section 2 provides that the personal net worth of an individual shall
not be taken into account in determining certification under such arti-
cle.

Section 3 provides the effective date.

 
JUSTIFICATION:

This bill will remove the cap at $3.5 million in order to allow MWBEs to
grow as a business while reaching their full potential and capacity.

 
LEGISLATIVE HISTORY:

2016: 5.7865 Referred to Finance/ A.9774 Referred to Governmental Oper-
ations

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately; provided, however, that the
amendment to Section 314 of the Executive Law made by Section 1 of this
act shall not affect the expiration of such section and shall be deemed
expired therewith.

2017-S7243 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7243
 
                             I N  S E N A T E
 
                              January 5, 2018
                                ___________
 
 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:
 
   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.
   § 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.
   § 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.
                                                            LBD01518-01-7

co-Sponsors

2017-S7243A (ACTIVE) - Details

See Assembly Version of this Bill:: A9631
Current Committee:: Senate Finance
Law Section:: Executive Law
Laws Affected:: Amd §§314 & 310, rpld §310 sub 19, Exec L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S7865
2019-2020: A2987

2017-S7243A (ACTIVE) - Summary

2017-S7243A (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S7243A

SPONSOR: RITCHIE
 
TITLE OF BILL:

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 qualifying minor-
ity and women-owned business enterprise; clarifying that an individual's
net worth is not to be considered in determining eligibility for certif-
ication under Article 15-A of the executive law; and to repeal subdivi-
sion 19 of section 310 of the executive law relating to the definition
of personal net worth

 
PURPOSE:

To eliminate the requirement that certain minority and women-owned busi-
ness enterprise owners have a personal net worth of less than three
million five hundred thousand dollars in order to obtain certification.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1 amends § 314 of the Executive Law removing the requirement
that designated minority and women-owned business enterprises be owned
by an individual or individuals, whose personal net worth does not
exceed $3.5 million.

Section 2 and 3 amend § 310 of the executive law, removing the require-
ments that minority and women-owned business enterprises be owned by an
individual or individuals, whose personal net worth does not exceed $3.5
million.

Section 4 repeals subdivision 19 of section 310 of the executive law.

Section 5 provides that the personal net worth of an individual shall
not be taken into account in determining certification under such arti-
cle.

Section 6 provides the effective date.

 
JUSTIFICATION:

This bill will remove the cap at $3.5 million in order to allow MWBEs to
grow as a business while reaching their full potential and capacity.

 
LEGISLATIVE HISTORY:

2016: S.7865 Referred to Finance/ A.9774 Referred to Governmental Oper-
ations

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately; provided, however, that the
amendment to Section 314 of the Executive Law made by Section 1 of this
act shall not affect the expiration of such section and shall be deemed
expired therewith, and the amendments to section 310 of the executive
law made by section two, three and four of this act shall not affect the
expiration of such section and shall be deemed expired therewith.

2017-S7243A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7243--A
 
                             I N  S E N A T E
 
                              January 5, 2018
                                ___________
 
 Introduced  by  Sen. RITCHIE -- read twice and ordered printed, and when
   printed to be committed to  the  Committee  on  Finance  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 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; clarifying that an
   individual's  net  worth is not to be considered in determining eligi-
   bility for certification under Article 15-A of the executive law;  and
   to  repeal subdivision 19 of section 310 of the executive law relating
   to the definition of personal net worth
 
   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.
   §  2.  Paragraphs  (e)  and (f) of subdivision 7 of section 310 of the
 executive law, as amended by chapter 22 of the laws of 2014, are amended
 to read as follows:
   (e) [an enterprise owned by an individual or individuals, whose owner-
 ship, control and operation are relied upon for  certification,  with  a
 personal net worth that does not exceed three million five hundred thou-

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

                                                            LBD01518-02-8

 S. 7243--A                          2

 sand dollars, as adjusted annually on the first of January for inflation
 according to the consumer price index of the previous year; and
   (f)]  an  enterprise  that is a small business pursuant to subdivision
 twenty of this section.
   § 3. Paragraphs (e) and (f) of subdivision 15 of section  310  of  the
 executive law, as amended by chapter 22 of the laws of 2014, are amended
 to read as follows:
   (e) [an enterprise owned by an individual or individuals, whose owner-
 ship,  control  and  operation are relied upon for certification, with a
 personal net worth that does not exceed three million five hundred thou-
 sand dollars, as adjusted annually on the first of January for inflation
 according to the consumer price index of the previous year; and
   (f)] an enterprise that is a small business  pursuant  to  subdivision
 twenty of this section.
   § 4. Subdivision 19 of section 310 of the executive law is REPEALED.
   § 5. 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.
   § 6. This act shall take effect immediately; provided, however, that:
   (a) 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; and
   (b)  the  amendments  to  section  310  of  the  executive law made by
 sections two, three and four of this act shall not affect the expiration
 of such section and shall be deemed expired therewith.

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