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.
Empowering disadvantaged state contractors” provides up-front down payments and bridge loans to socially or economically disadvantaged microbusinesses and small businesses that secure state contracts through CDFIs and non-traditional lenders