STATE OF NEW YORK
________________________________________________________________________
4821
2011-2012 Regular Sessions
IN ASSEMBLY
February 8, 2011
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Introduced by M. of A. P. RIVERA -- read once and referred to the
Committee on Economic Development
AN ACT to amend the economic development law, in relation to directing
the department of economic development to establish a consortium to
operate an internet database on the emerging domestic marketplace
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 100 of the economic development law is amended by
2 adding a new subdivision 40-b to read as follows:
3 40-b. to develop and establish a consortium of public and private
4 entities for the purpose of creating, operating and maintaining a non-
5 proprietary internet website database which describes the emerging
6 domestic marketplace. Such database shall provide and expand financial
7 and non-financial analysis of the marketplace. The consortium shall
8 establish guidelines and procedures to ensure the accuracy of the data-
9 base, establish standard definitions and terms, and establish formats
10 for the submission of data. In addition, the consortium shall ensure
11 that the appropriate privacy and confidentiality practices are enforced
12 and complied with at all times. For the purposes of this subdivision,
13 "emerging domestic market" means people, places or business enterprises
14 with growth potential that encounter capital constraints due to systemic
15 undervaluation resulting from imperfect market information. These
16 markets include ethnic- and women-owned firms, urban and rural communi-
17 ties, companies that serve low-to-moderate-income populations, and other
18 small- and medium-sized businesses.
19 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01107-01-1
