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.
STATE OF NEW YORK
________________________________________________________________________
6588
IN SENATE
January 28, 2016
___________
Introduced by Sen. SERINO -- 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:
22 8. In each program administered by or on behalf of the authority, and
23 consistent with any statute governing such program, preference shall be
24 given to the award of such funds to small businesses and entrepreneurs.
25 Such preference shall include, but not be limited to, active marketing
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD05333-01-5
S. 6588 2
1 of the program specifically to small businesses and entrepreneurs,
2 providing assistance to individual small businesses and entrepreneurs in
3 accessing available funds under the program, and establishing and work-
4 ing to meet the goal of awarding twenty percent of available funds under
5 the program to small businesses and entrepreneurs. For purposes of this
6 subdivision, the term "small business" shall have the same meaning as
7 provided in section one hundred thirty-one of the economic development
8 law and the term "entrepreneur" shall mean a person or persons who
9 organizes, operates, and assumes the risk of a start-up business
10 venture. The authority shall include in the annual program report
11 required pursuant to section eighteen hundred twenty-nine-a of this
12 title a description of activities, a listing of proposals provided with
13 financial assistance pursuant to this section and identify whether the
14 twenty percent goal was met for each program.
15 § 3. Section 1 of chapter 174 of the laws of 1968 constituting the New
16 York state urban development corporation act is amended by adding a new
17 section 4-a to read as follows:
18 § 4-a. Preferences to small businesses and entrepreneurs. In each
19 program administered by or on behalf of the corporation pursuant to an
20 appropriation of funds, and consistent with any statute governing such
21 program, preference shall be given to the award of such funds to small
22 businesses and entrepreneurs. Such preference shall include, but not be
23 limited to, active marketing of the program specifically to small busi-
24 nesses and entrepreneurs, providing assistance to individual small busi-
25 nesses and entrepreneurs in accessing available funds under the program,
26 and establishing and working to meet the goal of awarding twenty percent
27 of available funds under the program to small businesses and entrepre-
28 neurs. For purposes of this section, the term "small business" shall
29 have the same meaning as provided in section 131 of the economic devel-
30 opment law and the term "entrepreneur" shall mean a person or persons
31 who organizes, operates, and assumes the risk of a start-up business
32 venture. The corporation shall include in the annual program report
33 required pursuant to section thirty of this act a description of activ-
34 ities, a listing of proposals provided with financial assistance pursu-
35 ant to this section and identify whether the twenty percent goal was met
36 for each program.
37 § 4. This act shall take effect immediately.
