New York S07730 mandates state construction contracts to allocate a percentage of funds for soft cost spending to support local small businesses.
New York S07730 requires state contracts with construction firms to reserve a percentage of the contract for soft cost spending towards small businesses near the construction site. Soft costs include purchases of non-construction specific materials and services like office supplies, catering, maintenance materials, and security services. The spending plan must prioritize small businesses within a ten-mile radius of the construction site. If all nearby small businesses are utilized, firms may then use small businesses within the county.
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