|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 05, 2012||reported and committed to finance|
|Mar 30, 2012||referred to commerce, economic development and small business|
senate Bill S6860
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S6860 - Details
- See Assembly Version of this Bill:
- Current Committee:
- Law Section:
- Economic Development Law
- Laws Affected:
- Add §361, Ec Dev L
S6860 - Summary
Establishes a statewide network of university affiliated business incubators to be known as the New York incubator network.
S6860 - Sponsor Memo
BILL NUMBER:S6860 TITLE OF BILL: An act to amend the economic development law, in relation to establishing the New York incubator network PURPOSE: Creates the New York academic incubator network, allowing the Division of Science, Technology and Innovation (d.b.a. NYSTAR) to provide financial support to Department of Commerce designated business incubators affiliated with a New York State sited university or college. SUMMARY OF PROVISIONS: Section 1: Legislative intent. Section 2: Creates a new section 361 of the Economic Development Law by creating the New York Incubator Network, allowing NYSTAR to designate a college or university, college or university-affiliated research institute or a consortium of such institutions as a certified academic incubator and allows the Division to provide financial assistance for operating purposes. Section 3: Fiscal Statement.
S6860 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6860 I N S E N A T E March 30, 2012 ___________ Introduced by Sen. GOLDEN -- 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, in relation to establish- ing 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 or college affiliated busi- ness incubators, selected on a competitive basis that maintain not only physical facilities, but also most current industry best practice busi- ness development 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 development and local economic diversification, job creation, and the retention of the state's vast resources of intellectual capital. S 2. The economic development law is amended by adding a new section 361 to read as follows: S 361. NEW YORK INCUBATOR NETWORK. THE COMMISSIONER, IN COOPERATION WITH THE DIVISION OF SCIENCE, TECHNOLOGY AND INNOVATION IS AUTHORIZED TO ACCEPT APPLICATIONS AND DESIGNATE INCUBATORS AS PART OF THE NEW YORK ACADEMIC INCUBATOR NETWORK. SUCH DESIGNATIONS SHALL BE MADE IN ACCORD- ANCE WITH THE STANDARDS AND CRITERIA SET FORTH IN SUBDIVISION TWO OF THIS SECTION. INCUBATORS SO DESIGNATED SHALL BE ELIGIBLE FOR SUPPORT FROM THE URBAN DEVELOPMENT CORPORATION, AND FOR SUCH ADDITIONAL SUPPORT AS MAY OTHERWISE BE PROVIDED BY LAW. 1. AS USED IN THIS SECTION: (A) "INCUBATOR" MEANS AN ACADEMIC INCUBA- TOR FACILITY AS DEFINED IN SUBPARAGRAPH (VI) OF PARAGRAPH (E) OF SUBDI- VISION TWELVE-G OF SECTION TWO HUNDRED TEN OF THE TAX LAW; (B) "APPLICANT" MEANS A COLLEGE OR UNIVERSITY, OR COLLEGE OR UNIVERSI- TY-AFFILIATED RESEARCH INSTITUTE OR FOUNDATION PROVIDING A BASE FOR AN INCUBATOR; AND EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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