Expands eligibility for minority-owned business enterprise participation for state contracts to include businesses with employee stock ownership.

New York Assembly Bill A07010 amends the executive law to expand eligibility for minority-owned business enterprise participation in state contracts. It includes businesses with employee stock ownership plans, where at least 51% of participating employees are minority group members. This change aims to provide more opportunities for minority-owned businesses to engage in state contracts. The act takes effect immediately, with specific provisions set to be repealed as outlined.

Expands eligibility for minority-owned business enterprise participation for state contracts to include businesses with employee stock ownership.

New York Assembly Bill A07010 amends the executive law to expand eligibility for minority-owned business enterprise participation in state contracts. It includes businesses with employee stock ownership plans, where at least 51% of participating employees are minority group members. This change aims to provide more opportunities for minority-owned businesses to engage in state contracts. The act takes effect immediately, with specific provisions set to be repealed as outlined.