on October 6, Governor Kathy Hochul signed legislation (A.10459/S.9351), allowing New York City to award contracts of up to $1 million to minority and women-owned business enterprises (M/WBEs) without a formal competitive process.

This increase in the applicable dollar threshold, from $500,000 to $1 million, will mean M/WBEs will be able to compete more effectively for larger contracts with the city without having to respond to a request for proposal (RFP).

According to the Mayor’s Office of Contract Services, it has been working with contracting agencies and City oversight entities, including the NYC Comptroller’s Office, to implement this new threshold as soon as possible and anticipate the first new agency Requests for Information at this higher threshold to be released in the coming weeks.

Also passed was A.9259-A/S.3390-A, legislation that helps prevent fraud and abuse within the MWBE program while creating a framework for a fund to investigate and audit fraud; and A.6420/S.571), legislation that allows businesses to use MWBE development and lending program funds to refinance existing debt.

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