Extends the reporting deadline of the advisory panel on employee-owned enterprises from June 30, 2025 to June 30, 2026; extends for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York state.
STATE OF NEW YORK
________________________________________________________________________
8434
2025-2026 Regular Sessions
IN SENATE
June 11, 2025
___________
Introduced by Sen. S. RYAN -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules
AN ACT to amend the economic development law, in relation to extending
the reporting deadline of the advisory panel on employee-owned enter-
prises; and to amend chapter 435 of the laws of 2017 amending the
economic development law relating to establishing an advisory panel on
employee-owned enterprises within the division of small business
services, in relation to the effectiveness thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 5 of section 139 of the economic development
2 law, as amended by chapter 172 of the laws of 2024, is amended to read
3 as follows:
4 5. Reporting. The advisory panel shall issue a report no later than
5 June thirtieth, two thousand [twenty-five] twenty-six outlining the
6 findings and recommendations of the panel. The report shall be delivered
7 to the governor, the speaker of the assembly, the temporary president of
8 the senate, the minority leader of the assembly, the minority leader of
9 the senate, the chair of the assembly committee on ways and means, the
10 chair of the senate committee on finance, the chair of the assembly
11 committee on economic development, the chair of the assembly committee
12 on small business, the chair of the senate committee on commerce,
13 economic development, and small business, the chair of the assembly
14 committee on labor, and the chair of the senate committee on labor.
15 § 2. Section 2 of chapter 435 of the laws of 2017 amending the econom-
16 ic development law relating to establishing an advisory panel on employ-
17 ee-owned enterprises within the division of small business services, as
18 amended by chapter 172 of the laws of 2024, is amended to read as
19 follows:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13018-01-5
S. 8434 2
1 § 2. This act shall take effect immediately and shall expire October
2 1, [2025] 2026 when upon such date the provisions of this act shall be
3 deemed repealed.
4 § 3. This act shall take effect immediately; provided that the amend-
5 ments to subdivision 5 of section 139 of the economic development law
6 made by section one of this act shall not affect the repeal of such
7 section and shall be deemed repealed therewith.
