S T A T E   O F   N E W   Y O R K
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                                  4679

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 4, 2011
                               ___________

Introduced  by  M.  of  A.  P. RIVERA  --  read once and referred to the
  Committee on Small Business

AN ACT to amend the economic development law, in relation  to  directing
  the  division for small-business to examine and report upon new finan-
  cial products that can be offered to small businesses

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

  Section  1.  Subdivisions  7,  8,  9,  10 and 11 of section 134 of the
economic development law, subdivision 7 as added by chapter 547  of  the
laws  of  1976,  subdivision 8 as amended and subdivision 11 as added by
chapter 361 of the laws of 2009, subdivision 9 as amended by chapter 490
of the laws of 1993 and subdivision 10 as added by chapter  543  of  the
laws  of  2002, are amended and a new subdivision 12 is added to read as
follows:
  7. review pending legislation affecting  small-businesses  and  report
its findings to the commissioner; [and]
  8. initiate and encourage small-business education programs in general
and  to  coordinate with the functions of the office of general services
an information and outreach program directed toward informing  small-bu-
sinesses  in  the  state of procedures necessary for competing for state
purchases and to coordinate with the functions of  every  state  agency,
department  or  authority described in section one hundred thirty-nine-g
of the state finance law, pursuant to subdivision  (b)  of  section  one
hundred  thirty-nine-g  of  the  state  finance  law, an information and
outreach program directed toward informing small-businesses in the state
of procedures necessary for competing  for  state  contracts,  including
without  limitation  educating  small  contractors  about surety bonding
requirements on state contracts, and identifying resources available  to
such  contractors  in obtaining their first bond and in increasing their
bonding capacity, including but not limited to the federal  small  busi-
ness administration bond guarantee program[.];

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01100-01-1
              

A. 4679                             2

  9.  the  commissioner and the commissioners of agriculture and markets
and the office of general services shall initiate and  encourage  small-
business  education  programs  and  coordinate with the functions of the
office of general services, pursuant to subdivision [(b)] SIX of section
one  hundred  [sixty-one-b]  SIXTY-THREE  of  the  state finance law, an
information and outreach  program  directed  toward  informing  eligible
businesses  in  the  state  of  procedures  necessary  for competing for
purchases of food products pursuant to SUBDIVISION FOUR OF  section  one
hundred  [seventy-four-a] SIXTY-FIVE of the state finance law and subdi-
vision eight-a of section one hundred three  of  the  general  municipal
law,  and  to  coordinate  with  the  functions of every state agency or
department described in subdivision (b) of section one  hundred  thirty-
nine-g  of  the  state  finance law, an information and outreach program
directed toward informing eligible businesses in the state of procedures
necessary for competing for contracts for the purchase of food  products
pursuant  to  SUBDIVISION  FOUR  OF section one hundred [seventy-four-a]
SIXTY-FIVE of the state finance law and subdivision eight-a  of  section
one hundred three of the general municipal law[.];
  10.  conduct  a  survey  of  all  business incubators in the state and
assess the need for  additional  incubator  facilities  to  nurture  the
growth and development of small businesses[.];
  11.  provide assistance to small business in the state, and facilitate
access to programs serving small business, to  ensure  that  such  busi-
nesses  benefit,  as  needed, from technical, managerial, financial, and
general  business  assistance;  training;  marketing;  organization  and
personnel  skill  development; project management assistance; technology
assistance; bond and insurance education assistance; and other  business
development assistance. In addition, either independently or in conjunc-
tion with other state agencies:
  (a)  develop  a  clearinghouse of information on programs and services
provided by entities that may assist such businesses; and
  (b) seek to maximize utilization  by  small  businesses  of  available
federal  resources  including  but not limited to federal grants, loans,
loan guarantees, surety bonding guarantees,  technical  assistance,  and
programs  and  services of the federal small business administration[.];
AND
  12. STUDY, EVALUATE AND EXAMINE THE MEANS AND  METHODOLOGY  OF  ESTAB-
LISHING  NEW FINANCIAL PRODUCTS WHICH CAN BE DERIVED THROUGH THE INNOVA-
TIVE USE OF EXISTING STATE RESOURCES. SUCH EVALUATION SHALL INCLUDE, BUT
NOT BE LIMITED TO, AN EXAMINATION OF THE AGGREGATION AND  SALE  OF  LOAN
GUARANTEES  UNDER  THE  VARIOUS STATE LOANS AND GRANT PROGRAMS FOR SMALL
BUSINESSES IN EMERGING  DOMESTIC  MARKETS.    THE  DIVISION  SHALL  SEEK
ADVICE,  COUNSEL  AND  ASSISTANCE  FROM  THE FOUNDATION, NOT-FOR-PROFIT,
FINANCE AND INVESTMENT COMMUNITIES IN ITS DUTIES PURSUANT TO THIS SUBDI-
VISION FOR THE PURPOSE OF ENHANCING MARKET ACCEPTANCE OF  ANY  FINANCIAL
PRODUCTS  ESTABLISHED  PURSUANT  TO  THIS  SUBDIVISION.  ANNUALLY, ON OR
BEFORE FEBRUARY FIRST, THE DIVISION SHALL REPORT ITS  FINDINGS  AND  ANY
RECOMMENDATIONS TO THE GOVERNOR AND THE LEGISLATURE. FOR THE PURPOSES OF
THIS  SUBDIVISION,  "EMERGING  DOMESTIC  MARKET" MEANS PEOPLE, PLACES OR
BUSINESS  ENTERPRISES  WITH  GROWTH  POTENTIAL  THAT  ENCOUNTER  CAPITAL
CONSTRAINTS  DUE  TO  SYSTEMIC  UNDERVALUATION  RESULTING FROM IMPERFECT
MARKET INFORMATION. THESE MARKETS INCLUDE ETHNIC- AND WOMEN-OWNED FIRMS,
URBAN AND RURAL COMMUNITIES, COMPANIES THAT SERVE LOW-TO-MODERATE-INCOME
POPULATIONS AND OTHER SMALL- AND MEDIUM-SIZED BUSINESSES.
  S 2. This act shall take effect immediately.