New York state businesses get preference in state contract awards if their bid is within five percent of the winning bid.

This bill amends the state finance law to grant a preference to New York state businesses in the state contract award process. This preference applies when the New York state business' bid is within five percent of the winning bid. A company's primary business presence is considered to be in New York state if it generates over 50% of its gross revenues and employs over 50% of its full-time equivalent employees in the state. If multiple bids receive preferred status, the one with the best status will be considered the winning bid. The act will take effect one year after it becomes law.

New York state businesses get preference in state contract awards if their bid is within five percent of the winning bid.

This bill amends the state finance law to grant a preference to New York state businesses in the state contract award process. This preference applies when the New York state business' bid is within five percent of the winning bid. A company's primary business presence is considered to be in New York state if it generates over 50% of its gross revenues and employs over 50% of its full-time equivalent employees in the state. If multiple bids receive preferred status, the one with the best status will be considered the winning bid. The act will take effect one year after it becomes law.