S05407 Summary:

BILL NOS05407
 
SAME ASNo Same As
 
SPONSORROLISON
 
COSPNSRBORRELLO, OBERACKER
 
MLTSPNSR
 
Add §101-a, Ec Dev L; amd §1823, Pub Auth L; add §4-a, UDC Act
 
Requires the department of economic development, job development authority, and urban development corporation to provide preferences to small businesses and entrepreneurs in the administration of their economic development assistance programs; requires annual reports thereon.
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S05407 Actions:

BILL NOS05407
 
03/03/2023REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
01/03/2024REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
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S05407 Committee Votes:

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S05407 Floor Votes:

There are no votes for this bill in this legislative session.
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S05407 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5407
 
                               2023-2024 Regular Sessions
 
                    IN SENATE
 
                                      March 3, 2023
                                       ___________
 
        Introduced  by  Sen. ROLISON -- read twice and ordered printed, and when
          printed to be committed to the Committee on Commerce, Economic  Devel-
          opment and Small Business
 
        AN ACT to amend the economic development law, the public authorities law
          and  the New York state urban development corporation act, in relation
          to providing a preference to small businesses and entrepreneurs in the
          award of state economic development assistance
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  The  economic  development law is amended by adding a new
     2  section 101-a to read as follows:
     3    § 101-a. Preferences to small businesses and  entrepreneurs.  In  each
     4  program  administered  by  or on behalf of the department pursuant to an
     5  appropriation of funds, and consistent with any statute  governing  such
     6  program,  preference  shall be given to the award of such funds to small
     7  businesses and entrepreneurs. Such preference shall include, but not  be
     8  limited  to, active marketing of the program specifically to small busi-
     9  nesses and entrepreneurs, providing assistance to individual small busi-
    10  nesses and entrepreneurs in accessing available funds under the program,
    11  and establishing and working to meet the goal of awarding twenty percent
    12  of available funds under the program to small businesses  and  entrepre-
    13  neurs.  For purposes of this section, the term "entrepreneur" shall mean
    14  a person who organizes, operates, and assumes the  risk  of  a  start-up
    15  business  venture.  The  department  shall  include in the annual report
    16  required pursuant to subdivision thirty-seven-a of section  one  hundred
    17  of  this  article  a  description  of activities, a listing of proposals
    18  receiving financial assistance pursuant to  this  section  and  identify
    19  whether the twenty percent goal was met for each program.
    20    § 2. Section 1823 of the public authorities law is amended by adding a
    21  new subdivision 8 to read as follows:
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09146-01-3

        S. 5407                             2
 
     1    8.  In each program administered by or on behalf of the authority, and
     2  consistent with any statute governing such program, preference shall  be
     3  given  to the award of such funds to small businesses and entrepreneurs.
     4  Such preference shall include, but not be limited to,  active  marketing
     5  of  the  program  specifically  to  small  businesses and entrepreneurs,
     6  providing assistance to individual small businesses and entrepreneurs in
     7  accessing available funds under the program, and establishing and  work-
     8  ing to meet the goal of awarding twenty percent of available funds under
     9  the program to small businesses and entrepreneurs.  For purposes of this
    10  subdivision,  the  term  "small business" shall have the same meaning as
    11  provided in section one hundred thirty-one of the  economic  development
    12  law  and  the  term  "entrepreneur"  shall  mean a person or persons who
    13  organizes, operates,  and  assumes  the  risk  of  a  start-up  business
    14  venture.  The  authority  shall  include  in  the  annual program report
    15  required pursuant to section  eighteen  hundred  twenty-nine-a  of  this
    16  title  a description of activities, a listing of proposals provided with
    17  financial assistance pursuant to this section and identify  whether  the
    18  twenty percent goal was met for each program.
    19    § 3. Section 1 of chapter 174 of the laws of 1968 constituting the New
    20  York  state urban development corporation act is amended by adding a new
    21  section 4-a to read as follows:
    22    § 4-a.  Preferences to small businesses and entrepreneurs.    In  each
    23  program  administered  by or on behalf of the corporation pursuant to an
    24  appropriation of funds, and consistent with any statute  governing  such
    25  program,  preference  shall be given to the award of such funds to small
    26  businesses and entrepreneurs.  Such preference shall include, but not be
    27  limited to, active marketing of the program specifically to small  busi-
    28  nesses and entrepreneurs, providing assistance to individual small busi-
    29  nesses and entrepreneurs in accessing available funds under the program,
    30  and establishing and working to meet the goal of awarding twenty percent
    31  of  available  funds under the program to small businesses and entrepre-
    32  neurs.  For purposes of this section, the term  "small  business"  shall
    33  have  the same meaning as provided in section 131 of the economic devel-
    34  opment law and the term "entrepreneur" shall mean a  person  or  persons
    35  who  organizes,  operates,  and  assumes the risk of a start-up business
    36  venture. The corporation shall include  in  the  annual  program  report
    37  required  pursuant to section thirty of this act a description of activ-
    38  ities, a listing of proposals provided with financial assistance  pursu-
    39  ant to this section and identify whether the twenty percent goal was met
    40  for each program.
    41    § 4. This act shall take effect immediately.
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