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.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A2819
SPONSOR: Bichotte 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 OR GENERAL IDEA OF BILL:
The purpose of this bill is to eliminate 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.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 would authorize and be subject to a physical site inspection
to verify the fifty-one percent ownership requirement and be owned by an
individual or individuals, whose ownership, control and operation are
relied upon for certification. The enterprise will also be a small busi-
ness pursuant to subdivision twenty section three hundred ten.
Section 2 states that the personal net worth of an individual shall not
be taken into account in determining certification under such article.
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/capacity
PRIOR LEGISLATIVE HISTORY:
This is new legislation.
FISCAL IMPLICATIONS:
None.
EFFECTIVE DATE:
This act shall take effect immediately
STATE OF NEW YORK
________________________________________________________________________
2819
2017-2018 Regular Sessions
IN ASSEMBLY
January 23, 2017
___________
Introduced by M. of A. BICHOTTE, SOLAGES, SEPULVEDA, SEAWRIGHT, WALKER,
HOOPER, HYNDMAN, BLAKE -- 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; 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.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01518-01-7
A. 2819 2
1 § 3. This act shall take effect immediately; provided, however, that
2 the amendments to section 314 of the executive law made by section one
3 of this act shall not affect the expiration of such section and shall be
4 deemed expired therewith.
