Senate Bill S7048

2009-2010 Legislative Session

Relates to the New York incubator network

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2009-S7048 (ACTIVE) - Details

See Assembly Version of this Bill:
A11616
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Add §3102-f, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2011-2012: S3512
2013-2014: S3203
2015-2016: S2508
2017-2018: S2196
2019-2020: S5015
2021-2022: S5423
2023-2024: S7893

2009-S7048 (ACTIVE) - Summary

Relates to incubators for entrepreneurial development.

2009-S7048 (ACTIVE) - Sponsor Memo

2009-S7048 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7048

                            I N  S E N A T E

                              March 9, 2010
                               ___________

Introduced  by  Sen.  STACHOWSKI  -- read twice and ordered printed, and
  when printed to be committed to the Committee on Corporations, Author-
  ities and Commissions

AN ACT to amend the public authorities law, in relation to the New  York
  incubator network

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Legislative Intent. The legislature hereby recognizes that
supporting a statewide network of university affiliated business incuba-
tors, selected on a competitive basis that maintain  not  only  physical
facilities  but also most current industry best practice business devel-
opment services is a cost effective approach to supporting start-up  and
early  stage  companies  and  helping the state's creative entrepreneurs
successfully  transition  technological  breakthroughs  with  commercial
potential  from  the  laboratory  to the marketplace. This investment in
university affiliated business incubators will support regional develop-
ment and local economic diversification, job creation, and the retention
of the state's vast resources of intellectual capital.
  S 2.  The public authorities law is amended by adding  a  new  section
3102-f to read as follows:
  S  3102-F. NEW YORK INCUBATOR NETWORK. THE FOUNDATION IS AUTHORIZED TO
DESIGNATE TEN INCUBATORS AS PART OF THE NEW YORK INCUBATOR NETWORK. SUCH
DESIGNATIONS SHALL BE MADE IN ACCORDANCE WITH THE STANDARDS AND CRITERIA
SET FORTH IN SUBDIVISION TWO OF THIS SECTION AND WILL LAST FOR A  PERIOD
OF  FIVE  YEARS.  INCUBATORS SO DESIGNATED SHALL BE ELIGIBLE FOR SUPPORT
FROM THE FOUNDATION IN THE MANNER PROVIDED FOR IN SUBDIVISION  THREE  OF
THIS  SECTION,  AND  FOR  SUCH  ADDITIONAL  SUPPORT  AS MAY OTHERWISE BE
PROVIDED BY LAW.
  1. AS USED IN THIS SECTION: (A)  "INCUBATOR"  OR  "INCUBATE"  MEANS  A
UNIVERSITY  OR  UNIVERSITY-AFFILIATED RESEARCH INSTITUTE OR A CONSORTIUM
OF SUCH INSTITUTIONS,  DESIGNATED  BY  THE  FOUNDATION,  WHICH  PROVIDES
SERVICES  AND  FACILITIES  TO ENTREPRENEURS DURING THE START-UP PHASE OF
THEIR COMPANY LIFE-CYCLE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD16351-01-0
              

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