N.Y. State Finance Law § 97-k: Minority and women-owned business enterprise fund

§ 97-k. Minority and women-owned business enterprise fund. 1. There is

hereby established in the joint custody of the state comptroller and the

commissioner of taxation and finance a special fund to be known as the

"minority and women-owned business enterprise fund".

2. Such funds shall consist of all moneys appropriated for the purpose

of such fund, all moneys transferred or paid to such fund pursuant to

law, including pursuant to section three hundred sixteen of the

executive law, and contributions consisting of grants, including grants

or other financial assistance from any agency of government and all

moneys required by the provisions of this section or any other law to be

paid into or credited to this fund.

3. Monies of the fund, following appropriation by the legislature,

shall be expended by the appropriate New York state offices, agencies,

or authorities to acquire software, employ personnel to audit,

investigate and prosecute minority and women-owned business enterprise

fraud and to underwrite minority and women-owned business enterprise

programs to assist minority and women business enterprise owners to

develop sustainable businesses, provided that expenditures for such

activities shall only be required under this section to the extent that

monies are available in the fund to support them.