|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to finance|
|Jan 09, 2013||referred to finance|
senate Bill S1224
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S1224 - Details
S1224 - Summary
Establishes the microenterprise development act to assist very small businesses and low-income business people; appropriates funds therefor.
S1224 - Sponsor Memo
BILL NUMBER:S1224 TITLE OF BILL: An act to amend the economic development law, in relation to microenterprise development; and making an appropriation therefor PURPOSE OR GENERAL IDEA OF BILL: Establishes the microenterprise development act to assist very small businesses and low-income entrepreneurs. SUMMARY OF SPECIFIC PROVISIONS: This bill amends the economic development law by adding a new article 9-B. Section 217(a) provides definitions for terms. Section 217(b) (1) requires the commissioner of the department of economic development to establish a grant program for microenterprise technical assistance. In addition, it mandates an annual appropriation of no less than one million dollars. Subparagraph (2) establishes that the organizations receiving funding shall use the grants to provide training and technical assistance to the microenterprise entrepreneurs. Subparagraph (3) provides that not less than fifty percent of the funds made available are used to benefit person whose income is not more than 150% of the poverty line as defined in 42 use 9902(2). Subparagraph (4) requires the training organizations to have received at least one dollar in matching funds for every dollar received from the state. Section 4 of the legislation requires an initial allocation of $1.5 million.
S1224 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1224 2013-2014 Regular Sessions I N S E N A T E (PREFILED) January 9, 2013 ___________ Introduced by Sen. PERKINS -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the economic development law, in relation to microenter- prise development; and making an appropriation therefor THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "microenterprise development act". S 2. Legislative findings and purpose. (a) The legislature finds as follows: 1. Development and expansion of businesses in economically distressed communities in both rural and urban areas can assist residents who are unemployed, underemployed or in low-income jobs. 2. Microenterprises provide a means for unemployed, underemployed or low-income individuals to find and sustain productive work, and they provide opportunities for economically distressed communities to thrive. 3. Low-income microentrepreneurs lack access to capital, training and technical assistance. Many low-income microentrepreneurs need lending services and technical assistance to start, operate or expand their businesses. 4. Local microenterprise support organizations have demonstrated cost- effective delivery methods for providing lending services and technical assistance. 5. Charitable foundation support, federal program funding and private sector support can be leveraged by a statewide program for development of microenterprises. (b) The purpose of this act is to strengthen the state economy and enable low-income residents to become self-sufficient by encouraging microenterprise development. S 3. The economic development law is amended by adding a new article 9-B to read as follows: ARTICLE 9-B MICROENTERPRISE DEVELOPMENT
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