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A07206 Summary:

BILL NOA07206
 
SAME ASSAME AS S04575
 
SPONSORStirpe
 
COSPNSRAubry, D'Urso, Thiele, Rosenthal L, Epstein, Simon, Glick, Colton, Jaffee, Dickens, DeStefano, Giglio, Crouch, Bronson, Burke, Raynor, Hyndman, Morinello, Abbate
 
MLTSPNSRCook, Englebright, Wright
 
Amd 100, Ec Dev L
 
Establishes a program to provide education and training to individuals fifty years of age and older regarding the transition to an entrepreneur and small business developer.
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A07206 Actions:

BILL NOA07206
 
04/12/2019referred to economic development
04/12/2019reference changed to small business
05/07/2019reported
05/09/2019advanced to third reading cal.310
05/15/2019passed assembly
05/15/2019delivered to senate
05/15/2019REFERRED TO FINANCE
05/21/2019SUBSTITUTED FOR S4575
05/21/20193RD READING CAL.731
05/21/2019PASSED SENATE
05/21/2019RETURNED TO ASSEMBLY
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A07206 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A7206
 
SPONSOR: Stirpe
  TITLE OF BILL: An act to amend the economic development law, in relation to establishing a program to provide education and training to individuals fifty years of age and older regarding the transition to an entrepreneur and small business developer   PURPOSE: The purpose of this bill is to encourage and increase participation in small business development by individuals age 50 or older.   SUMMARY OF PROVISIONS: Section 1: adds a new subdivision 47 to section 100 of the economic development law instructing the commissioner to develop education and training for individuals 50 years of age and older regarding transitions into life as an entrepreneur and small business developer. The bill provides that such training will be made available in each economic development region of the state and that information about the training will be made available on the department's website. Section 2: Establishes the effective date. Allows for immediate addi- tion, amendment, or repeal of rules or regulations necessary for imple- mentation.   JUSTIFICATION: While entrepreneurship commonly is viewed as a young person's 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 fact, the Ewing Marion Kauffman Foundation in 2014 found the same .percentage of new businesses were started by older entrepreneurs-those age 60 and up-as by those between 18 and 29. The Kauffman Foundation also reports that over the last two decades, the share of new entrepre- neurs between 55 and 64 nationwide increased more than for any other age range; this share of new entrepreneurs in this age group grew from less than 15 percent in 1996 to more than 25 percent in 2016. In New York City alone, chambers of commerce and other groups that work with aspir- ing business owners report that city residents over age 50 have grown from a very small slice of their clientele 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 gener- ate new tax revenue. Studies show "encore entrepreneurship" also can promote good health and delay the need for seniors to tap into tax-fund- ed 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 entrepreneurs' unique needs, which can range from the most basic "how-tos" to expanded technology skill sets. This bill would require development of programs and services geared to supporting those age 50 and older-many of whom may have spent decades working for others-who want to transition into starting up their own business venture.   LEGISLATIVE HISTORY: New bill   FISCAL IMPLICATIONS: To be determined   EFFECTIVE DATE: 90 days after enactment
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A07206 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7206
 
                               2019-2020 Regular Sessions
 
                   IN ASSEMBLY
 
                                     April 12, 2019
                                       ___________
 
        Introduced by M. of A. STIRPE -- read once and referred to the Committee
          on Economic Development
 
        AN  ACT to amend the economic development law, in relation to establish-
          ing a program to provide education and training to  individuals  fifty
          years of age and older regarding the transition to an entrepreneur and
          small business developer

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision 47 of section 100 of the  economic  development
     2  law  is  renumbered  subdivision 48 and a new subdivision 47 is added to
     3  read as follows:
     4    47. to develop and implement a program to provide education and train-
     5  ing to individuals fifty years of age and older regarding the transition
     6  from a current job, retirement or other life status to  an  entrepreneur
     7  and  small business developer. Such education and training program shall
     8  be available in each economic development region  of  the  state  estab-
     9  lished  in  article  eleven  of  this  chapter, and shall be designed to
    10  encourage and increase participation by such individuals in the develop-
    11  ment of small businesses in  this  state,  as  defined  in  section  one
    12  hundred  thirty-one of this chapter. Information regarding such training
    13  program shall be made available on the official website of  the  depart-
    14  ment.
    15    §  2.  This  act shall take effect on the ninetieth day after it shall
    16  have become a law. Effective immediately, the addition, amendment and/or
    17  repeal of any rule or regulation necessary  for  the  implementation  of
    18  this  act  on its effective date are authorized to be made and completed
    19  on or before such date.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10777-01-9
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