senate Bill S1877

2011-2012 Legislative Session

Creates the bioscience facilities development program

download bill text pdf

Sponsored By

Archive: Last Bill Status -

  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to corporations, authorities and commissions
Jan 13, 2011 referred to corporations, authorities and commissions


S1877 - Details

Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add ยง16-u, UDC Act
Versions Introduced in 2009-2010 Legislative Session:

S1877 - Summary

Creates the bioscience facilities development program; provides grants to local economic development corporations for the purpose of creating a revolving fund for loans to bioscience facilities to assist commercial bioscience companies to remain in New York state.

S1877 - Sponsor Memo

S1877 - Bill Text download pdf

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


                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 13, 2011

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

AN ACT to amend the New York state urban development corporation act, in
  relation to creating the bioscience facilities development program


  Section  1.  Legislative  findings  and  declarations. The legislature
finds that New York state has many  assets  that  are  critical  to  the
growth of the biotechnology industry.
  The  legislature  also  finds  that  New  York  state has an extensive
academic research base, a highly skilled labor pool and access to finan-
cial institutions oriented toward biotech development.
  The legislature further finds that even  with  many  of  the  critical
elements  for  growing a biotechnology cluster, New York for all intents
and purposes has been eclipsed by a number of other regions in the coun-
  Further, the legislature  finds  that  while  start-up  companies  are
established  in  New York, companies that are poised for rapid expansion
have left New York for regions that have developed vigorous biotech  and
policies  that deliberately invite, nurture and facilitate the expansion
of the industry and proactively address the biotech companies' need  for
affordable laboratory space.
  The  legislature  declares that biotechnology is an important economic
development industry for the state and that the critical  impediment  to
the  successful  growth of a biotech cluster in New York state is access
to  affordable  laboratory  space.  Therefore,  the  legislature  hereby
declares   the   creation  of  the  "bioscience  facilities  development

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

S. 1877                             2


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