New York A04256 amends the executive law to include not-for-profit corporations as minority and women-owned enterprises.

New York A04256 amends the executive law to redefine "minority-owned business enterprise" and "women-owned business enterprise" to include not-for-profit corporations. These corporations must have a governing board with at least 51% minority group members or women, with real, substantial, and continuing leadership, and be incorporated and independently operated in the state. The bill also updates the definitions to ensure these enterprises can be certified and counted towards minority-owned or women-owned business goals, but not both simultaneously.

New York A04256 amends the executive law to include not-for-profit corporations as minority and women-owned enterprises.

New York A04256 amends the executive law to redefine "minority-owned business enterprise" and "women-owned business enterprise" to include not-for-profit corporations. These corporations must have a governing board with at least 51% minority group members or women, with real, substantial, and continuing leadership, and be incorporated and independently operated in the state. The bill also updates the definitions to ensure these enterprises can be certified and counted towards minority-owned or women-owned business goals, but not both simultaneously.