Senate Bill S6270

                                BILL NUMBER:S6270

TITLE OF BILL:  An act to amend the New York state urban development
corporation act, in relation to the establishment of an
African-American and African-Caribbean business development center

PURPOSE:

This bill would provide permanent funds to create an African-American
and African-Caribbean Business Development center within the New York
State Urban Development Corporation to provide technical assistance
and any such other information as deemed necessary to the
African-American and African-Caribbean business community where it may
begin to successfully participate in the programs established under
the Omnibus Economic Development Act of 1987.

SUMMARY OF PROVISIONS:

Section 1: amends chapter 174 of the laws of 1968 by adding a new
section 9-g to create an entity that will be known as "The
African-American and African-Caribbean Business Development Center".

JUSTIFICATION:

One of the most significant obstacles to the successful development of
the African-American and African-Caribbean business community in New
              

York State has been proving difficulty in accessing information on
state economic development programs, as well as a pronounced
difficulty in obtaining working capital and project specific financing
in order to aggressively compete for available state and local
contracts.

The establishment of the African-American and African-Caribbean
Business Development Center would bridge the gap in informational,
legal, financial and technical assistance services available to the
African-American and African-Caribbean Business Community. Centrally
located to be easily accessible to African-American and
African-Caribbean Business Community. Centrally located to be easily
accessible to African-American and African-Caribbean firms seeking
assistance, it would create a setting where alternate forms of
business organization can be explored while serving a valuable role to
develop viable firms who are not currently organized in a corporate
form but otherwise represent sound, practical candidates for-economic
assistance.

LEGISLATIVE HISTORY:

S 3001 (2013) - Referred to Corporations, Authorities and Commissions
S. 3612 (2012) - Referred to Corporations, Authorities and Commissions
S 3556 (2009) - Reported and Committed to Finance

FISCAL IMPLICATIONS:

None.

EFFECTIVE DATE:


This act shall take effect immediately.