Directs the office for the aging and the department of economic development to expand encore entrepreneurship in the state, to empower individuals fifty years of age or older to establish small businesses.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A6331
SPONSOR: Stirpe TITLE OF BILL:
An act to amend the elder law and the economic development law, in
relation to encore entrepreneurship
PURPOSE OF BILL:
This bill directs the Office for the Aging and the Department of Econom-
ic Development to expand encore entrepreneurship in the State to empower
individuals 50 years of age or older to establish first-time small busi-
nesses.
SUMMARY OF PROVISIONS:
Section 1: Amends the Elder Law to require the Office for the Aging, in
coordination with the Department of Economic Development, to establish
an advisory committee to make recommendations to the Governor and the
Legislature on how to empower individuals 50 years of age and older
through the establishment of small businesses. The committee will
include economic development professionals, small business support
specialists, senior citizens organizations and successful encore entre-
preneurs. This section also establishes the definitions of encore entre-
preneur and small business within Elder Law.
Section 2: Amends the Economic Development Law to require the. Division
of Small Business to establish a program that provides -education and
training specific to the unique needs of encore entrepreneurs as defined
in section 1 of this bill. This section also establishes a definition of
encore entrepreneur and small business within Economic Development Law.
Section 3: Establishes the effective date.
JUSTIFICATION:
While entrepreneurship commonly is viewed as a youthful pursuit, survey
data in recent years shows a growing trend among those aged 50 and older
of starting their own business or entrepreneurial Venture. In 2014, the
Ewing Marion Kauffman Foundation found that the same percentage of new
businesses were started by those aged 60 and up when compared to people
between 18 and 29. The Foundation also.reported that over the last two
decades the share of new entrepreneurs between 55 and 64 nationwide
increased more for any other age group, and grew from less than 15
percent in 1996, to more than 25 percent in 2016. In New York City,
Chambers of Commerce and other groups working with aspiring business
owners report that city residents over the age of 50 have grown to one-
quarter or more.
Seniors who start their own businesses often have several advantages
over their younger counterparts including significant years of work
experience and deep networks. Their start-ups create new jobs, open-up
previously held jobs to younger applicants, boost the economy, and
generate new tax revenue. Studies show "encore entrepreneurship" can
also promote good health and delay the need for seniors to tap into
tax-funded social support systems. As our population statewide continues
to age, the trend toward encore entrepreneurship will likely become even
more pronounced. Yet, no formal programs or services are in place to
support aspiring senior entrepreneur's unique needs ranging from the
most basic "how-tos" to expanded technology skill sets.
This bill will bring the NYS Office for the Aging ("NYSOFA") and Empire
State Development ("ESD") together to implement innovative programming
and information to support this growing population of small business
owners by creating a task-force made up of economic development profes-
sionals, small business support specialists, senior citizens organiza-
tions, and successful entrepreneurs to develop recommendations for the
Governor and Legislature. This will require ESD's. Division of Small
Business to initiate and implement a program to provide education and
training specific to the unique needs of encore entrepreneurs to help
their successful transition into their new enterprise. Through this
taskforce, New York will become a leader in supporting encore entrepre-
neurs and address the growing needs of this demographic.
LEGISLATIVE HISTORY:
2022: A.9530 - Referred to Aging/ S.554-A - Amended. and Referred to
Aging
2021: S.554 - Referred to Economic Development
2020: A.9929 - Referred to Small Business/ 5.7939 - Referred to Aging
2019: A.7206 - Vetoed Memo.153/ 5.4575 - Substituted by A.7206
FISCAL IMPLICATIONS:
To be determined.
EFFECTIVE DATE:
This act shall take effect on the ninetieth day after 'it shall have
become a law. Effective immediately, the addition, amendment and/or
repeal of any rule or regulation necessary for the implementation of
this act on its effective date are authorized to be made and completed
on or before such date.
STATE OF NEW YORK
________________________________________________________________________
6331
2023-2024 Regular Sessions
IN ASSEMBLY
April 5, 2023
___________
Introduced by M. of A. STIRPE, COLTON, HUNTER, HEVESI, SILLITTI, STECK,
ZINERMAN, STERN, SIMON, ZEBROWSKI, JACOBSON -- read once and referred
to the Committee on Aging
AN ACT to amend the elder law and the economic development law, in
relation to encore entrepreneurship
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivisions 16 and 17 of section 202 of the elder law,
2 subdivision 16 as amended by chapter 63 of the laws of 2022 and subdivi-
3 sion 17 as added by section 1 of subpart J of part XX of chapter 55 of
4 the laws of 2020, are amended and a new subdivision 18 is added to read
5 as follows:
6 16. to the extent appropriations are available, and in consultation
7 with the office of children and family services, conduct a public educa-
8 tion campaign that emphasizes zero-tolerance for elder abuse. Such
9 campaign shall include information about the signs and symptoms of elder
10 abuse, identification of potential causes of elder abuse, which includes
11 identity theft, resources available to assist in the prevention of elder
12 abuse, where suspected elder abuse can be reported, contact information
13 for programs offering services to victims of elder abuse such as coun-
14 seling, and assistance with arranging personal care and shelter. Such
15 campaign may include, but not be limited to: printed educational and
16 informational materials; audio, video, electronic, other media; and
17 public service announcements or advertisements; [and]
18 17. subject to an appropriation, make available to designated agencies
19 as defined in paragraph (a) of subdivision one of section two hundred
20 fourteen of this title, a training program for the purpose of raising
21 awareness, removing barriers and improving services for older adults
22 based on their sexual orientation and gender identity or expression as
23 defined in section two hundred ninety-two of the executive law. Such
24 training program may include:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00355-01-3
A. 6331 2
1 (i) an overview of the history, unique needs, and concerns of lesbian,
2 gay, bisexual, transgender, asexual, gender non-conforming and gender
3 non-binary older adults;
4 (ii) reasons why lesbian, gay, bisexual, transgender, asexual, gender
5 non-conforming and gender non-binary older adults may choose not to
6 self-identify; and
7 (iii) tools that may be used to incorporate lesbian, gay, bisexual,
8 transgender, asexual, gender non-conforming and gender non-binary older
9 adult concerns into direct care and steps that may be taken to improve
10 the quality of services and support provided[.]; and
11 18. to, in cooperation with the department of economic development,
12 make recommendations to the governor and legislature on expanding encore
13 entrepreneurship in the state, to empower individuals fifty years of age
14 or older to establish small businesses. The director and the president
15 of empire state development shall establish an advisory committee to
16 carry out the provisions of this subdivision. Such committee shall
17 include, but not be limited to, economic development professionals,
18 small business support specialists, senior citizens organizations, and
19 successful encore entrepreneurs. For purposes of this subdivision the
20 term "encore entrepreneur" shall mean a person fifty years of age or
21 older who is starting a small business for the first time, and the term
22 "small business" shall mean a business that is located within the state,
23 independently owned and operated and employs not more than fifty
24 persons.
25 § 2. Section 134 of the economic development law is amended by adding
26 a new subdivision 13 to read as follows:
27 13. initiate and implement a program to provide education and training
28 specific to the needs of individuals fifty years of age or older regard-
29 ing the transition from a current job, retirement or other life status
30 to an encore entrepreneur and small business developer. Such program
31 shall address the unique issues faced by such entrepreneurs and identify
32 and disseminate helpful and relevant information and resources to assist
33 such individuals with such transition. For purposes of this subdivision
34 the term "encore entrepreneur" shall mean a person fifty years of age or
35 older who is starting a small business for the first time, and the term
36 "small business" shall mean a business that is located within the state,
37 independently owned and operated and employs not more than fifty
38 persons.
39 § 3. This act shall take effect on the ninetieth day after it shall
40 have become a law. Effective immediately, the addition, amendment and/or
41 repeal of any rule or regulation necessary for the implementation of
42 this act on its effective date are authorized to be made and completed
43 on or before such date.
