Establishes a MWBE or SDVOBE subcontractor tax credit

This bill creates a tax credit for contractors in New York who hire minority, women-owned, or service-disabled veteran-owned businesses as subcontractors on state projects. To qualify, the contractor must pay the certified subcontractor for work related to a state contract, and they can claim a credit equal to 35% of those payments against their state taxes. The law includes a rule preventing contractors from firing existing subcontractors just to hire a qualified one solely for the financial benefit. This change is designed to encourage the use of diverse businesses in state procurement without specifying any particular political outcome.