Assembly Bill A4821

2011-2012 Legislative Session

Directs the department of economic development to establish a consortium to operate a database on the emerging domestic marketplace

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Archive: Last Bill Status - Stricken

  • 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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2011-A4821 (ACTIVE) - Details

Law Section:
Economic Development Law
Laws Affected:
Amd ยง100, Ec Dev L
Versions Introduced in 2009-2010 Legislative Session:
A8414

2011-A4821 (ACTIVE) - Summary

Directs the department of economic development to establish a consortium to operate a database on the emerging domestic marketplace.

2011-A4821 (ACTIVE) - Bill Text download pdf 

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

                                  4821

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 8, 2011
                               ___________

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

AN ACT to amend the economic development law, in relation  to  directing
  the  department  of  economic development to establish a consortium to
  operate an internet database on the emerging domestic marketplace

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

  Section  1.  Section 100 of the economic development law is amended by
adding a new subdivision 40-b to read as follows:
  40-B. TO DEVELOP AND ESTABLISH A  CONSORTIUM  OF  PUBLIC  AND  PRIVATE
ENTITIES  FOR  THE  PURPOSE  OF  CREATING,  OPERATING  AND MAINTAINING A
NON-PROPRIETARY INTERNET WEBSITE DATABASE WHICH DESCRIBES  THE  EMERGING
DOMESTIC  MARKETPLACE.  SUCH DATABASE SHALL PROVIDE AND EXPAND FINANCIAL
AND NON-FINANCIAL ANALYSIS OF  THE  MARKETPLACE.  THE  CONSORTIUM  SHALL
ESTABLISH  GUIDELINES AND PROCEDURES TO ENSURE THE ACCURACY OF THE DATA-
BASE, ESTABLISH STANDARD DEFINITIONS AND TERMS,  AND  ESTABLISH  FORMATS
FOR  THE  SUBMISSION  OF  DATA. IN ADDITION, THE CONSORTIUM SHALL ENSURE
THAT THE APPROPRIATE PRIVACY AND CONFIDENTIALITY PRACTICES ARE  ENFORCED
AND  COMPLIED  WITH AT ALL TIMES.  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  COMMUNI-
TIES, COMPANIES THAT SERVE LOW-TO-MODERATE-INCOME POPULATIONS, AND OTHER
SMALL- AND MEDIUM-SIZED BUSINESSES.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01107-01-1

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