New York bill S03221 mandates annual social and environmental impact assessments for businesses receiving state aid, using a third-party standard.

New York bill S03221 amends the New York State Urban Development Corporation Act and the Economic Development Law to require businesses receiving state aid of $100,000 or more to perform annual assessments of their social and environmental impact. These assessments must be conducted against a third-party standard, which evaluates the business's effects on employees, customers, community, and the environment. The standard must be developed by an independent entity, ensuring transparency and impartiality.

New York bill S03221 mandates annual social and environmental impact assessments for businesses receiving state aid, using a third-party standard.

New York bill S03221 amends the New York State Urban Development Corporation Act and the Economic Development Law to require businesses receiving state aid of $100,000 or more to perform annual assessments of their social and environmental impact. These assessments must be conducted against a third-party standard, which evaluates the business's effects on employees, customers, community, and the environment. The standard must be developed by an independent entity, ensuring transparency and impartiality.