Relates to expanding employee ownership assistance for lesbian, gay, bisexual, transgender and non-binary individuals

This bill amends New York's public authorities and economic development laws to expand eligibility for loan assistance to employee-owned businesses. It adds a new loan preference criterion requiring that at least half of a project's membership be from qualifying groups, including lesbian, gay, bisexual, transgender, and non-binary individuals, alongside existing racial/ethnic minority categories. The change directly affects employee groups seeking to purchase shuttering or relocating manufacturing plants through existing state loan programs. Key provisions update definitions to explicitly include LGBTQ+ individuals as part of "minority business enterprise" eligibility under the economic development law. The policy modifies how loan applications are evaluated but does not create new funding.