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A09309 Summary:

BILL NOA09309B
 
SAME ASNo Same As
 
SPONSORSolages
 
COSPNSRSayegh, Taylor, Griffin, Reyes, Stirpe, De Los Santos
 
MLTSPNSR
 
Add §16-bb, UDC Act
 
Provides small businesses with grants of up to $100,000 to commercialize energy and environmental technology innovations and ideas in-state to stimulate economic development.
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A09309 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         9309--B
 
                   IN ASSEMBLY
 
                                    February 23, 2022
                                       ___________
 
        Introduced  by M. of A. SOLAGES, SAYEGH, TAYLOR, GRIFFIN, REYES, STIRPE,
          DE LOS SANTOS -- read once and referred  to  the  Committee  on  Small
          Business  --  committee discharged, bill amended, ordered reprinted as
          amended and recommitted to said committee -- reported and referred  to
          the Committee on Ways and Means -- committee discharged, bill amended,
          ordered reprinted as amended and recommitted to said committee
 
        AN ACT to amend the New York state urban development corporation act, in
          relation to creating the New York state innovative energy and environ-
          mental technology program
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1.  Legislative  intent.  The  legislature  hereby  finds  and
     2  declares  that  the success of innovative energy and environmental tech-
     3  nology-oriented businesses with growth potential  is  essential  to  the
     4  continued  economic health and security of New York state. It is further
     5  found that the development of new products to assist  mature  industries
     6  undergoing  dramatic changes or facing increasing international competi-
     7  tion with reducing energy costs and complying with  environmental  regu-
     8  lations,  can  serve to retain, and even increase, employment.  However,
     9  commercialization of these products  is  restrained  as  numerous  small
    10  businesses are limited by lack of early stage financing.
    11    Therefore,  the  legislature seeks to provide early stage funds, via a
    12  grants program, to stimulate the creation of a substantial number of new
    13  businesses and jobs in the  energy  and  environmental  sectors  of  New
    14  York's economy.
    15    §  2.  Section  1 of chapter 174 of the laws of 1968, constituting the
    16  New York state urban development corporation act, is amended by adding a
    17  new section 16-bb to read as follows:
    18    § 16-bb. New York state innovative energy and environmental technology
    19  program. 1. Definitions. As used in this section,  the  following  words
    20  and terms shall have the following meanings:
    21    (a)  "Innovative  energy  technologies" shall mean all methods used to
    22  produce, distribute, conserve and store energy  by  methods  which  have
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08350-04-2

        A. 9309--B                          2
 
     1  significant  potential for commercialization, with emphasis on renewable
     2  energy systems as defined in section 66-p of the public service law.
     3    (b)  "Innovative  environmental  technologies" shall mean technologies
     4  that advance sustainable development by reducing risk,  enhancing  cost-
     5  effectiveness,  improving  process efficiency, and creating products and
     6  processes that are environmentally beneficial or benign and  which  have
     7  significant  potential  for  commercialization.  Emerging  environmental
     8  technologies include, but are not  limited  to:  air,  water,  and  soil
     9  pollution  control;  solid and toxic waste management; site remediation;
    10  and environmental monitoring and recycling.
    11    (c) "Small businesses" shall mean an independently owned and  operated
    12  business  that  meets all of the following conditions: (i) headquartered
    13  in the state, and principal business operations located  in  the  state;
    14  (ii) employs one hundred or less persons, 80% of whom are employed with-
    15  in  the  state  on  a  full-time basis; and (iii) involved in developing
    16  innovative energy and environmental technologies.
    17    (d) "Eligible costs" shall mean costs associated with working  capital
    18  needs,  the acquisition or upgrading of equipment, or leasehold improve-
    19  ments necessary for commercialization of the product, device, technique,
    20  system or process; provided that no other source of funds  is  available
    21  under  terms,  interest  rates, or other conditions that would allow the
    22  project to proceed successfully. Eligible costs shall exclude any  costs
    23  incurred prior to the effective date of this section.
    24    2.  The  corporation is authorized, within available appropriations in
    25  the empire state  economic  development  fund  established  pursuant  to
    26  section  sixteen-m  of this act or from any other funds appropriated for
    27  the purpose set out in this section, to award capital grants  of  up  to
    28  one  hundred  thousand  dollars  to small businesses, for the purpose of
    29  encouraging and supporting innovative energy and environmental technolo-
    30  gy development and commercialization across the state. Such grants shall
    31  be awarded on a competitive basis to small business applicants  respond-
    32  ing to requests for proposals issued by the corporation.
    33    3.  Grants  and  contracts  made  by  the corporation pursuant to this
    34  section shall be subject to the following:
    35    (a) grants shall not exceed $100,000 per year;
    36    (b) the corporation may not enter into more than one grant per year to
    37  a small business; and
    38    (c) grants provided by the corporation may only be used  for  eligible
    39  costs.
    40    4.  Applications  for  grants  authorized  under  this  section  shall
    41  describe the product, device, technique, system or process which  is  to
    42  be developed, including:
    43    (a) a market assessment;
    44    (b) an explanation of its technical value;
    45    (c)  measurable  outcomes  resulting  from  its  manufacture and sale,
    46  including the estimated number of jobs to be created  and  retained  and
    47  the salary levels of such jobs;
    48    (d)  an  estimated  timeline  for bringing it to market, with proposed
    49  starting and completion dates and benchmarks; and
    50    (e) a budget for its development and marketing that describes how  the
    51  grant  will be used, why the grant from the corporation is essential and
    52  cannot be obtained from other sources, and sources and amounts of  other
    53  funds to be used in its development, marketing and distribution.
    54    5.  The  corporation  shall,  in  consultation with the New York state
    55  energy research and development authority and the department of environ-

        A. 9309--B                          3
 
     1  mental conservation, develop criteria to be  used  in  evaluating  grant
     2  applications. Such criteria shall include, but not be limited to:
     3    (a)  economic impact as measured by such variables as potential reven-
     4  ue, job creation, effect on the local economy,  global  competitiveness,
     5  and, purchases from in-state suppliers;
     6    (b) ability of the applicant to leverage other funds;
     7    (c) financial commitment of the applicant;
     8    (d) technical feasibility;
     9    (e)  likelihood  that  the economic benefits will be manifest within a
    10  six- to twelve-month period, but at most within three years; and
    11    (f) likelihood of the product, device, technique, system or process to
    12  result in improvements to public health, quality of life,  the  environ-
    13  ment, human or business performance or economic productivity.
    14    6.  The corporation shall, on or before September 1, 2023 and annually
    15  thereafter, submit a report to the governor, the temporary president  of
    16  the  senate and the senate minority leader, the speaker of the assembly,
    17  and the minority leader of the assembly, the chairpersons of the  senate
    18  finance  committee and the assembly ways and means committee, and to any
    19  other member of the legislature requesting such reports  on  the  effec-
    20  tiveness and accomplishments of the New York state innovative energy and
    21  environmental  technology  grants program. Such report shall include for
    22  each  grant  awarded,  the  name  and  location  of  the  recipient,   a
    23  description  of  the product, device, technique, system or process being
    24  commercialized, the amount and use of the grant, the total project cost,
    25  the impact of the project on the recipient's  business,  the  number  of
    26  jobs  created or retained, and such other information as the corporation
    27  shall deem appropriate.
    28    7. Nothing in this section shall require the corporation  to  disclose
    29  any  matters  involving confidential intellectual property or work prod-
    30  uct, whether patentable or not, including any  formula,  plan,  pattern,
    31  process, tool, mechanism, compound, procedure, production data or compi-
    32  lation of information, which is not patented, but which is known only to
    33  certain  individuals  who are using it to fabricate, produce or compound
    34  an article of trade or service having commercial value and  which  gives
    35  its  user an opportunity to obtain a business advantage over competitors
    36  who do not know it or use it.
    37    § 3. This act shall take effect immediately.
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