Requires state contracts with construction firms reserve a percent of such contract to soft cost spending towards small businesses

Summary

The bill mandates that any construction firm entering a contract with a New York state agency must allocate a portion of its non‑labor, non‑pre‑construction expenses to small businesses within ten miles of the project. Firms must submit a spending plan, report quarterly, and risk losing future state funding if they fail to meet the targets. The goal is to boost local small‑business participation in state‑funded construction projects.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share