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

This bill amends New York State law to explicitly include lesbian, gay, bisexual, transgender, and non-binary individuals in the definition of "minority" for employee ownership assistance programs. It updates eligibility criteria so that employee-owned businesses with a majority of LGBTQ+-identifying members qualify for loan preferences under existing economic development programs. The change applies to businesses in manufacturing or industrial sectors facing closure or relocation, aiming to help employees form worker-owned cooperatives. This expands access to financial support for LGBTQ+ workers seeking to retain jobs through employee ownership.