New York Assembly Bill A05649

New York 2025-2026 Regular Session

• Introduced: 2/19/25
• Refer: 2/19/25
• Refer: 1/7/26

Caption

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.

Summary

Bill A05649 seeks to amend the economic development law by enhancing the duties and reporting requirements of the advisory panel on employee-owned enterprises. Specifically, it requires the panel to evaluate barriers that employee-owned enterprises face in obtaining certification as minority and women-owned business enterprises (MWBEs) and to recommend strategies for improving their participation in state contracts. Additionally, the bill aims to facilitate the creation of employee-owned enterprises that can help sustain existing minority and women-owned businesses during ownership transitions.

Impact

If enacted, this bill would potentially lower the barriers for employee-owned enterprises to gain MWBE certification, thereby increasing their access to state contracts and resources. It would also require the advisory panel to produce a report outlining its findings and recommendations, which could lead to legislative changes aimed at supporting employee ownership models in New York.

Sentiment

The sentiment surrounding Bill A05649 appears to be generally supportive, as it addresses the needs of employee-owned enterprises and seeks to enhance minority and women-owned business participation in state contracts. However, specific discussions and votes have not been recorded, making it difficult to gauge the full extent of support or opposition.

Contention

Notable points of contention may arise around the effectiveness of the proposed strategies for reducing barriers to certification and whether the changes will adequately support existing minority and women-owned businesses. Stakeholders in the business community, particularly those involved in employee ownership and minority business advocacy, may have differing views on the best approaches to achieve these goals.