Establishes a MWBE or SDVOBE subcontractor tax credit

This bill creates a 35% tax credit for contractors who pay certified minority/women-owned (MWBE) or service-disabled veteran-owned (SDVOBE) businesses for work on New York state contracts. It directly affects contractors working on state projects and certified MWBE/SDVOBE subcontractors operating within New York. The credit applies to payments made for professional services, trades, or supplier work under state contracts, and unused credit can carry over for up to three years. Contractors cannot switch subcontractors solely to claim this credit, and the credit cannot be used alongside other tax credits for the same subcontract.