Establishes the contract New York program to provide tax credits to corporations contracting with emerging microbusinesses; directs the department of economic development and the empire state development corporation to create and maintain a registry of emerging microbusinesses and to biannually implement best practices for engaging corporations to utilize such registry; establishes the contract New York tax credit for New York corporations with eligible contracts with emerging microbusinesses.
Relates to the utilization of minority and women-owned business enterprises, service-disabled veteran-owned businesses, small businesses and microbusinesses in state-funded construction projects; directs the empire state development corporation, in consultation with other state agencies, to develop a state division of post-construction commitments and compliance to create rules and regulations for private businesses operating in buildings constructed using state funding to have certain employment goals and living wage requirements, annual minority and women-owned business enterprise, certified service-disabled veteran-owned business, small business and microbusiness utilization goals for maintenance and operations spending, and a community grant program; directs the state division of post-construction commitments and compliance to establish a post-construction compliance review board; provides penalties for noncompliance.
Authorizes the empire state development corporation to develop a public awareness campaign promoting businesses located in New York state with an emphasis on small businesses and the need to shop in downtown local areas; requires the creation of the Buy New York Online Networking Directory to connect purchasers with businesses located in New York.
Requires that public contracts be divided by size into large, medium, small and micro contracts for the purpose of increasing opportunities for small businesses, including minority-owned business enterprises and women-owned business enterprises, to participate in state contracts.
Authorizes the director of the division of minority and women's business development and the mayor of the city of New York to enter into a memorandum of understanding to allow reciprocity between the state and New York City for businesses that are certified as minority and women-owned business enterprises.
Requires contractors receiving public funds to pay amounts owed to small businesses and minority-owned business enterprises within 10 days of receipt of an undisputed invoice generated by a small business, minority-owned business enterprise or vendor management service and managed service provider on behalf of the small business or minority-owned business enterprise.