Directs the advisory panel on employee-owned enterprises to evaluate barriers to certification as MWBEs for employee-owned businesses and recommend strategies for continuation of certified business enterprises upon the transfer or sale of such business; extends the expiration date of the panel.
STATE OF NEW YORK
________________________________________________________________________
5649
2025-2026 Regular Sessions
IN ASSEMBLY
February 19, 2025
___________
Introduced by M. of A. ZINERMAN -- read once and referred to the Commit-
tee on Economic Development
AN ACT to amend the economic development law, in relation to additional
duties and reporting requirements of the advisory panel on employee-
owned enterprises; and to amend chapter 435 of the laws of 2017,
amending the economic development law relating to establishing an
advisory panel on employee-owned enterprises within the division of
small business services, in relation to the effectiveness thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraphs (h) and (i) of subdivision 4 of section 139 of
2 the economic development law are relettered paragraphs (k) and (l) and
3 three new paragraphs (h), (i) and (j) are added to read as follows:
4 (h) evaluate barriers for employee-owned enterprises to be certified
5 in the statewide certification program for minority and women-owned
6 businesses as outlined in section three hundred fourteen of the execu-
7 tive law and to participate in state agency contracts, and examine and
8 identify changes to state laws, including article fifteen-A of the exec-
9 utive law, which shall reduce barriers to certification and partic-
10 ipation in the performance of state contracts;
11 (i) identify and recommend strategies that the director of the divi-
12 sion of minority and women's business development, as defined by section
13 three hundred eleven of the executive law, could implement to help
14 employee-owned enterprises confirm their qualifications for the state
15 certification program for minority and women-owned businesses, navigate
16 the state certification process, and participate in state agency
17 contracts;
18 (j) identify and recommend strategies, including those that the direc-
19 tor of the division of minority and women's business development could
20 implement, to facilitate the creation of employee-owned enterprises that
21 promote the continuation of existing minority and women-owned businesses
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD09278-01-5
A. 5649 2
1 either as part of a pre-existing business succession of ownership plan
2 or as an alternative option if a business is being offered for sale or
3 transfer by the current owner or the heirs or estate of a deceased
4 owner;
5 § 2. Subdivision 5 of section 139 of the economic development law, as
6 amended by chapter 172 of the laws of 2024, is amended to read as
7 follows:
8 5. Reporting. The advisory panel shall issue a report no later than
9 June thirtieth, two thousand [twenty-five] twenty-six outlining the
10 findings and recommendations of the panel. The report shall be delivered
11 to the governor, the speaker of the assembly, the temporary president of
12 the senate, the minority leader of the assembly, the minority leader of
13 the senate, the chair of the assembly committee on ways and means, the
14 chair of the senate committee on finance, the chair of the assembly
15 committee on economic development, the chair of the assembly committee
16 on small business, the chair of the senate committee on commerce,
17 economic development, and small business, the chair of the assembly
18 committee on labor, and the chair of the senate committee on labor, the
19 chair of the select majority task force on minority and women-owned
20 business enterprises, and the director of the division of minority and
21 women's business development.
22 § 3. Section 2 of chapter 435 of the laws of 2017, amending the
23 economic development law relating to establishing an advisory panel on
24 employee-owned enterprises within the division of small business
25 services, as amended by chapter 172 of the laws of 2024, is amended to
26 read as follows:
27 § 2. This act shall take effect immediately and shall expire October
28 1, [2025] 2026 when upon such date the provisions of this act shall be
29 deemed repealed.
30 § 4. This act shall take effect immediately; provided that the amend-
31 ments to subdivisions 4 and 5 of section 139 of the economic develop-
32 ment law made by sections one and two of this act shall not affect the
33 repeal of such section and shall be deemed repealed therewith.
