New York state businesses receive 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 if the business' bid is within five percent of the winning bid. A company qualifies if it is headquartered in New York and generates more than 50% of its revenue and employs more than 50% of its full-time employees in the state. If multiple bids meet these criteria, the one with the best preferred status is considered the winning bid. The changes will take effect one year after the bill becomes law.

New York state businesses receive 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 if the business' bid is within five percent of the winning bid. A company qualifies if it is headquartered in New York and generates more than 50% of its revenue and employs more than 50% of its full-time employees in the state. If multiple bids meet these criteria, the one with the best preferred status is considered the winning bid. The changes will take effect one year after the bill becomes law.