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History
- Referred to finance
- Referred to finance
Full text
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Title of bill
An act to amend the state finance law, in relation to federal funds and compliance with participation by minority group members and women with respect to state contracts
Purpose
To require that projects receiving funding from the Federal American Recovery and Reinvestment Act of2009 be subject to the provisions of NYS Executive Law, Article IS-A, Minority and Women owned Business Enterprise.
Summary of provisions
Amends State financial law to require all agencies obtaining state contracts or subcontracts, and municipalities which receive federal funding from the American Recovery and Reinvestment Act of 2009 be subject to the provisions of Executive Law, Article 15-A, Minority and Women owned Business Enterprise.
* Defines a "State Contract" as: a written agreement or purchase order instrument for a total expenditure in excess of $25,000 for labor, services, supplies, equipment, materials or any combination of the aforementioned; * A written agreement in excess of $100,000 for the acquisition, construction, demolition, replacement, major repair or renovation and improvement of real property for a project; * Exempts from the definition of "Services", banking relationships, issuance of insurance policies or contracts for the sale of bonds, notes or other securities. * Defines "subcontract" as an agreement with a total expenditure in excess of $25,000 for the construction, demolition, replacement, major repair, renovation, planning or design of real property and improvements between a contractor and any individual or business enterprise; and, exempts any construction, demolition, replacement, major repair, renovation, planning or design of real property or improvements for use by the contractor.
JUSTIFICATION ::
Executive Law Article 15-A was created to ensure the utilization of minority and women owned businesses in public contracting by state agencies. Extending the provisions of Article 15-A to include State contracts funded by the Federal American Recovery and Reinvestment Act, would further encourage the participation of such businesses, which are a viable part of New York's economic future.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.