Assembly Bill A2987

2019-2020 Legislative Session

Eliminates the requirement that certain MWBE owners have a personal net worth of less than three million five hundred thousand dollars in order to obtain certification; repealer

download bill text pdf

Sponsored By

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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2019-A2987 (ACTIVE) - Details

Current Committee:
Assembly Governmental Operations
Law Section:
Executive Law
Laws Affected:
Amd §§314 & 310, rpld §310 sub 19, Exec L
Versions Introduced in 2017-2018 Legislative Session:
A9631

2019-A2987 (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.

2019-A2987 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2987
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 28, 2019
                                ___________
 
 Introduced by M. of A. BICHOTTE, STECK -- Multi-Sponsored by -- M. of A.
   BLAKE,  HYNDMAN,  SEAWRIGHT,  WALKER  -- read once and referred to the
   Committee 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; 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

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

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