NY State Senate Bill 2015-S3894A

Archive: Last Bill Status - In Senate Committee Finance Committee

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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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 06, 2016	referred to finance
Jun 01, 2015	print number 3894a
Jun 01, 2015	amend (t) and recommit to finance
Feb 20, 2015	referred to finance

Bill Amendments

Original

A (Active)

2015-S3894 - Details

See Assembly Version of this Bill:: A2126
Current Committee:: Senate Finance
Law Section:: New York State Urban Development Corporation Act
Laws Affected:: Add §§16-x & 16m, UDC Act
Versions Introduced in Other Legislative Sessions:: 2013-2014: A10195
2017-2018: S817, S7546, A1260, A9671
2019-2020: S4361, A45
2021-2022: S205, A6317
2023-2024: S1862, A3549

2015-S3894 - Summary

Establishes the New York state innovation voucher program; provides small businesses with access to research and development by colleges and universities, government laboratories and public research institutes in order to assist such businesses in the creation of innovative products or services; makes an appropriation therefor.

2015-S3894 - Sponsor Memo

                                BILL NUMBER:S3894

TITLE OF BILL:  An act to amend the urban development corporation act,
in relation to establishing the New York state innovation voucher
program; and making an appropriation therefor

PURPOSE OR GENERAL IDEA OF BILL:

New York State will issue "Innovation Vouchers" directly to small
businesses, which will provide dollar-for-dollar matching funds to
acquire expertise from colleges and universities, government
laboratories and public research institutes. A public-private
partnership will thereby be formed, connecting small businesses with
research facilities to create jobs and innovation in New York.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1 defines the title as the "New York State Innovation Voucher
Program Act."

Section 2, Paragraph 1 establishes the New York State Innovation
Voucher program within the Empire State Development Corporation.

Section2, Paragraph 2 defines the terms in the act.

Section2, Paragraph 3 describes the selection of eligible recipients.

Section2, Paragraph 4 requires the Empire State Development
Corporation to identify and suggest a preliminary set of research
partners in New York State, and post such suggestions on their
website, which list may be supplemented from time to time.

Section 2, Paragraph 5 establishes Innovation Vouchers at $10,000,
requiring the Empire State Development Corporation to institute
criteria for determination. In rare occasions, Innovation Vouchers of
$50,000 may be awarded to an exceptional applicant. Recipients must
match each voucher dollar-for-dollar, and may choose a research
partner of its liking. Empire State Development Corporation will
establish a payment structure to the recipient.

Section 2, Paragraph 6 requires the Empire State Development
Corporation to periodically evaluate recipients of the Innovative
Vouchers to measure job creation and metrics that are useful in
tracking the program's success.

Section 2, Paragraph 7 requires the Empire State Development
Corporation to establish guidelines for the implementation and
administration of the program.

Section 3 provides an appropriation of $10 million for the program.

Section 4 sets the effective date.

JUSTIFICATION:

Small businesses often do not have the resources needed to harness
expertise in research and development. Meanwhile, scientific,


technological and other research facilities have the capacity to
provide insights and assistance to new projects. Funding the linkage
between these two groups would lead to new opportunities for economic
growth in New York State.

Under this program, Innovation Vouchers will be issued directly to
small businesses that apply. Small businesses would be selected based
on the strength of their proposals and would then provide matching
funds of their own to take advantage of the program and demonstrate a
commitment to it. The sum of the public and private monies will be
directed toward universities, national laboratories and public
research institutes for the purpose of assisting the businesses with
technical challenges for innovation.

According to "The 2014 State New Economy Index" published by The
Information Technology and Innovation Foundation (ITIF), this is an
idea that has a recorded history of success in other countries,
including Austria, Belgium, Canada, Denmark, Germany, the Netherlands,
Ireland, and Sweden. Based on information from Senter Novem, an
innovation agency in Holland, "eight out of ten vouchers issued
resulted in an innovation that otherwise would not have come to
fruition, and 80 percent of new R&D jobs created in Holland since 2005
are attributable to the vouchers."

In addition, Connecticut's "Entrepreneur Innovation Award" program
administered by the state's CTNext agency has proven that this is a
concept that can be successful in the United States. The prospect of
creating jobs for small businesses, while harnessing the innovation of
our research institutions, argues strongly for bringing Innovation
Vouchers to New York.

Success can be measured in the jobs created as a result of the
momentum fostered through the vouchers. Other performance metrics can
also be analyzed, including patents produced as a result of the
collaborations.

FISCAL IMPLICATIONS:

Ten million dollars to the State less any tax proceeds received as a
result of increased economic activity resulting from enhanced
innovation in New York State.

IMPACT ON REGULATION OF BUSINESSES AND INDIVIDUALS:

None

EFFECT ON FINES, TERMS OF IMPRISONMENT OR OTHER SANCTIONS:

None

LEGISLATIVE HISTORY:

New bill

EFFECTIVE DATE:


This act shall take effect on the one hundred eightieth day after it
shall have become a law; provided, however, that any guidelines
necessary for the timely implementation of this act on its effective
date may be promulgated on or before such effective date.

2015-S3894 - Bill Text download pdf

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

                                  3894

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 20, 2015
                               ___________

Introduced  by  Sen.  FUNKE  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the urban development corporation act,  in  relation  to
  establishing the New York state innovation voucher program; 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 "New York state innovation voucher program act".
  S  2.  Section  1 of chapter 174 of the laws of 1968, constituting the
New York state urban development corporation act, is amended by adding a
new section 16-x to read as follows:
  S 16-X. NEW YORK STATE INNOVATION VOUCHER PROGRAM. (1) PROGRAM  ESTAB-
LISHED.  THERE IS HEREBY ESTABLISHED A NEW YORK STATE INNOVATION VOUCHER
PROGRAM UNDER THE PURVIEW OF THE EMPIRE STATE  DEVELOPMENT  CORPORATION.
SUCH  PROGRAM SHALL PROVIDE SMALL BUSINESSES WITH ACCESS TO RESEARCH AND
DEVELOPMENT BY COLLEGES AND UNIVERSITIES,  GOVERNMENT  LABORATORIES  AND
PUBLIC  RESEARCH  INSTITUTES  IN  ORDER TO ASSIST SUCH BUSINESSES IN THE
CREATION OF INNOVATIVE PRODUCTS OR SERVICES.
  (2) DEFINITIONS. FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING TERMS
SHALL HAVE THE FOLLOWING MEANINGS:
  (A) "ELIGIBLE  RECIPIENT"  SHALL  MEAN  SMALL  BUSINESSES  HAVING  ONE
HUNDRED OR FEWER EMPLOYEES, OPERATING IN NEW YORK STATE.
  (B) "ELIGIBLE PROJECTS" OR "EXPENSES ELIGIBLE FOR REIMBURSEMENT" SHALL
MEAN  RESEARCH  AND  DEVELOPMENT COSTS LEADING TO INNOVATIVE PRODUCTS OR
SERVICES, INCLUDING BUT NOT LIMITED TO DEVELOPMENT OF PROTOTYPES,  FIELD
TESTING,  OR  ENGINEERING.  AN  ELIGIBLE  EXPENSE  SHALL  BE AN ELIGIBLE
PROJECT THAT IS NOT AN INELIGIBLE EXPENSE.
  (C) "INELIGIBLE EXPENSE" SHALL MEAN REIMBURSEMENT OF TIME SPENT BY THE
EMPLOYEES OR OWNERS OF THE SMALL BUSINESS; GRANT OR VOUCHER  APPLICATION
COSTS;  ROUTINE  AND  READILY-PREDICTABLE  BUSINESS EXPENSES; DESIGN AND

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02874-01-5

S. 3894                             2

PRODUCTION OF MARKETING OR  ADVERTISING  MATERIALS;  BASIC  PROFESSIONAL
SERVICES  SUCH  AS  ONGOING  ROUTINE  ACCOUNTING, TAX OR LEGAL SERVICES;
BUILDING OR EQUIPMENT CONSTRUCTION COSTS;  FINANCING  FEES;  TRAVEL  AND
ENTERTAINMENT  COSTS;  HOSPITALITY  COSTS; AND ANY OTHER EXPENSES DEEMED
INELIGIBLE BY THE EMPIRE STATE DEVELOPMENT CORPORATION.
  (D) "RESEARCH PARTNER" SHALL MEAN COLLEGES,  UNIVERSITIES,  STATE  AND
NATIONAL  GOVERNMENT LABORATORIES, AND PUBLIC RESEARCH INSTITUTES IN NEW
YORK STATE.
  (3) SELECTION OF ELIGIBLE RECIPIENTS. (A) ELIGIBLE RECIPIENTS SHALL BE
SELECTED BY THE  EMPIRE  STATE  DEVELOPMENT  CORPORATION  BASED  ON  THE
STRENGTH  OF  THEIR  PROPOSALS,  INCLUDING  EVALUATION OF THE INNOVATIVE
NATURE OF THE PROJECT, ITS  TECHNICAL  FEASIBILITY,  AND  THE  POTENTIAL
IMPACT ON THE PEOPLE OF NEW YORK.
  (B)  SMALL BUSINESSES MAY IDENTIFY DESIRED OR POTENTIAL RESEARCH PART-
NERS AS PART OF THEIR APPLICATIONS. ADVANCE DETERMINATIONS OF THE  BUSI-
NESS'  RESEARCH  PARTNER  SHALL  NOT  BE A REQUIREMENT FOR RECEIPT OF AN
INNOVATION VOUCHER.
  (C) APPLICATIONS SHALL BE JUDGED BY AN ADVISORY COMMITTEE, OR REGIONAL
ADVISORY COMMITTEE, APPOINTED BY  THE  PRESIDENT  OF  THE  EMPIRE  STATE
DEVELOPMENT  CORPORATION  CONSISTING  OF MEMBERS OF THE BUSINESS, HIGHER
EDUCATION, SCIENCE AND TECHNOLOGY COMMUNITIES. MEMBERS  OF  AN  ADVISORY
COMMITTEE  SHALL  RECEIVE  NO  COMPENSATION APART FROM REIMBURSEMENT FOR
ACTUAL AND NECESSARY EXPENSES.
  (4) RESEARCH PARTNERS. THE EMPIRE STATE DEVELOPMENT CORPORATION  SHALL
IDENTIFY  AND SUGGEST A PRELIMINARY SET OF RESEARCH PARTNERS IN NEW YORK
STATE THAT HAVE APPROPRIATE FACILITIES AND RESOURCES TO  PARTICIPATE  IN
THE  INNOVATION  VOUCHER  PROGRAM AND ARE WILLING TO ACCEPT VOUCHERS AND
MATCHING FUNDS FROM ELIGIBLE RECIPIENTS FOR PAYMENT OF  THEIR  SERVICES.
SUCH SUGGESTED LIST OF POTENTIAL RESEARCH PARTNERS SHALL BE DISPLAYED ON
THE  EMPIRE  STATE DEVELOPMENT CORPORATION'S WEBSITE, AND MAY BE SUPPLE-
MENTED FROM TIME TO TIME.
  (5) VOUCHERS AND MATCHING FUNDS. (A) VOUCHERS  AWARDED  SHALL  BE  TEN
THOUSAND  DOLLARS  FOR EACH ELIGIBLE PROJECT. UPON THE RECOMMENDATION OF
AN ADVISORY COMMITTEE, THE PRESIDENT MAY AWARD A VOUCHER IN AN AMOUNT UP
TO FIFTY THOUSAND DOLLARS WHERE A PROJECT IS DEEMED EXCEPTIONALLY  INNO-
VATIVE.    CRITERIA FOR THE DETERMINATION OF AWARDS SHALL BE ESTABLISHED
BY THE EMPIRE STATE DEVELOPMENT CORPORATION.  ELIGIBLE RECIPIENTS  SHALL
MATCH  THE  VALUE  OF THE VOUCHER DOLLAR-FOR-DOLLAR AND SHALL APPLY SUCH
AMOUNT TO THE VOUCHER-FUNDED PROJECT.
  (B) IF AN APPLICANT IS APPROVED FOR A VOUCHER BASED ON THE APPROVAL OF
AN ELIGIBLE PROJECT, SUCH ELIGIBLE RECIPIENT SHALL APPROACH THE RESEARCH
PARTNER THE ELIGIBLE RECIPIENT WISHES TO WORK WITH. THE ELIGIBLE RECIPI-
ENT SHALL  NOTIFY  THE  EMPIRE  STATE  DEVELOPMENT  CORPORATION  OF  THE
RESEARCH  PARTNER  THEY  WILL  BE  WORKING WITH ON THE ELIGIBLE PROJECT.
PAYMENT OF THE VOUCHER SHALL BE MADE BASED ON A PAYMENT STRUCTURE ESTAB-
LISHED BY THE EMPIRE STATE DEVELOPMENT CORPORATION.
  (6) EVALUATION. THE EMPIRE STATE DEVELOPMENT CORPORATION SHALL  EVALU-
ATE RECIPIENTS OF THE INNOVATION VOUCHERS AT PERIODIC INTERVALS TO MEAS-
URE:  (A)  WHETHER  JOBS  HAVE  BEEN CREATED AS A RESULT OF THE MOMENTUM
FOSTERED THROUGH THE VOUCHERS; AND (B) ANY  OTHER  PERFORMANCE  METRICS,
SUCH  AS  THE  NUMBER  OF  PATENTS  PRODUCED  AS A RESULT OF THE COLLAB-
ORATIONS, THAT THE EMPIRE STATE DEVELOPMENT CORPORATION  DETERMINES  ARE
USEFUL IN TRACKING THE PROGRAM'S SUCCESS.
  (7)  GUIDELINES. THE EMPIRE STATE DEVELOPMENT CORPORATION SHALL ESTAB-
LISH GUIDELINES FOR THE IMPLEMENTATION AND ADMINISTRATION OF  THE  INNO-
VATION VOUCHER PROGRAM.

S. 3894                             3

  S  3. The sum of ten million dollars ($10,000,000), or so much thereof
as may be necessary, is hereby appropriated to the Empire State Develop-
ment Corporation out of any moneys in the state treasury in the  general
fund to the credit of the local assistance account, not otherwise appro-
priated, and made immediately available. Such moneys shall be payable on
the  audit  and  warrant  of  the  comptroller  on vouchers certified or
approved in the manner prescribed by law.
  S 4. This act shall take effect on the one hundred eightieth day after
it shall have become a  law;  provided,  however,  that  any  guidelines
necessary  for  the  timely  implementation of this act on its effective
date may be promulgated on or before such effective date.

2015-S3894A (ACTIVE) - Details

See Assembly Version of this Bill:: A2126
Current Committee:: Senate Finance
Law Section:: New York State Urban Development Corporation Act
Laws Affected:: Add §§16-x & 16m, UDC Act
Versions Introduced in Other Legislative Sessions:: 2013-2014: A10195
2017-2018: S817, S7546, A1260, A9671
2019-2020: S4361, A45
2021-2022: S205, A6317
2023-2024: S1862, A3549

2015-S3894A (ACTIVE) - Summary

2015-S3894A (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S3894A

TITLE OF BILL:  An act to amend the urban development corporation act,
in relation to establishing the New York state innovation voucher
program

PURPOSE OR GENERAL IDEA OF BILL:  This legislation creates the New
York State "Innovation Vouchers" program Under the program, Innovation
Vouchers would go directly to small businesses, to provide
dollar-for-dollar matching funds to acquire expertise from colleges
and universities, government laboratories and public research
institutes. A public-private partnership would be formed, connecting
small businesses with research and development facilities to create
jobs and innovation in New York.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1. defines the title as the "New York State Innovation Voucher
Program Act "

Section 2, Paragraph 1 establishes the New York State Innovation
Voucher Program within the Empire State Development Corporation.

Section 2, Paragraph 2 defines the terms in the act.

Section 2, Paragraph 3 describes the selection of eligible recipients.

Section 2, Paragraph 4 requires the Empire State Development
Corporation to identify a list of potential research and development
partners in New York State, and post such list on their website, which
would be required to be updated quarterly.

Section 2, Paragraph 5 establishes Innovation Vouchers for up to
$10,000 and requires the Empire State Development Corporation to
institute criteria for voucher eligibility determination. In rare
occasions, Innovation Vouchers of $50,000 may be awarded to an
exceptional applicant. Recipients must match each voucher
dollar-for-dollar, and may choose a research and development partner
that they find compatible. The Empire State Development Corporation is
authorized to establish a payment structure to the recipient through
rules and regulations.

Section 2, Paragraph 6 requires the Empire State Development
Corporation to provide outreach to small businesses, including but not
limited to minority- and women-owned enterprises and veteran-owned
businesses.

Section 2, Paragraph 7 requires periodic evaluation of the Innovative
Voucher program to measure its economic impact.

Section 2, Paragraph 8 authorizes the Empire State Development
Corporation use funds available under the Economic Development Fund
(Section 16-m of the Urban Development Corporation Act) or from any
other funds appropriated.

2015-S3894A (ACTIVE) - Bill Text download pdf

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

                                 3894--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 20, 2015
                               ___________

Introduced  by  Sen.  FUNKE  -- read twice and ordered printed, and when
  printed to be committed to  the  Committee  on  Finance  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT  to  amend the urban development corporation act, in relation to
  establishing the New York state innovation voucher program

  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 "New York state innovation voucher program act".
  S 2. Section 1 of chapter 174 of the laws of  1968,  constituting  the
New York state urban development corporation act, is amended by adding a
new section 16-x to read as follows:
  S  16-X. NEW YORK STATE INNOVATION VOUCHER PROGRAM. (1) PROGRAM ESTAB-
LISHED. THERE IS HEREBY ESTABLISHED A NEW YORK STATE INNOVATION  VOUCHER
PROGRAM  UNDER  THE PURVIEW OF THE EMPIRE STATE DEVELOPMENT CORPORATION.
SUCH PROGRAM SHALL PROVIDE SMALL BUSINESSES WITH ACCESS TO RESEARCH  AND
DEVELOPMENT  BY  COLLEGES  AND UNIVERSITIES, GOVERNMENT LABORATORIES AND
PUBLIC RESEARCH INSTITUTES IN ORDER TO ASSIST  SUCH  BUSINESSES  IN  THE
CREATION  OF  INNOVATIVE PRODUCTS OR SERVICES THAT PROVIDE JOB RETENTION
AND EXPANSION.
  (2) DEFINITIONS. FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING TERMS
SHALL HAVE THE FOLLOWING MEANINGS:
  (A) "ELIGIBLE RECIPIENT" SHALL MEAN SMALL  BUSINESSES  AS  DEFINED  IN
SECTION ONE HUNDRED THIRTY-ONE OF THE ECONOMIC DEVELOPMENT LAW.
  (B)  "ELIGIBLE  PROJECTS"  FOR  VOUCHERS  AUTHORIZED  PURSUANT TO THIS
SECTION SHALL MEAN RESEARCH AND DEVELOPMENT PROJECTS  LEADING  TO  INNO-
VATION OF PRODUCTS OR SERVICES. ELIGIBLE COSTS SHALL INCLUDE, BUT NOT BE
LIMITED TO, THE DEVELOPMENT OF PROTOTYPES, FIELD TESTING, ENGINEERING OR
OTHER  PROJECTS AUTHORIZED BY THE CORPORATION THAT ENHANCE INNOVATION OF

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02874-05-5

S. 3894--A                          2

PRODUCTS OR SERVICES THAT RESULT IN JOB GROWTH  AND  BUSINESS  EXPANSION
WITHIN THE STATE.
  (C) "INELIGIBLE EXPENSE" SHALL MEAN REIMBURSEMENT OF TIME SPENT BY THE
EMPLOYEES  OR OWNERS OF THE SMALL BUSINESS; GRANT OR VOUCHER APPLICATION
COSTS; ROUTINE AND READILY-PREDICTABLE  BUSINESS  EXPENSES;  DESIGN  AND
PRODUCTION  OF  MARKETING  OR  ADVERTISING MATERIALS; BASIC PROFESSIONAL
SERVICES SUCH AS ONGOING ROUTINE  ACCOUNTING,  TAX  OR  LEGAL  SERVICES;
BUILDING  OR  EQUIPMENT  CONSTRUCTION  COSTS; FINANCING FEES; TRAVEL AND
ENTERTAINMENT COSTS; HOSPITALITY COSTS; AND ANY  OTHER  EXPENSES  DEEMED
INELIGIBLE BY THE CORPORATION.
  (D)  "RESEARCH AND DEVELOPMENT PARTNER" SHALL MEAN COLLEGES, UNIVERSI-
TIES, STATE AND NATIONAL GOVERNMENT LABORATORIES,  AND  PUBLIC  RESEARCH
INSTITUTES IN NEW YORK STATE.
  (E)  "EXCEPTIONALLY  INNOVATIVE  PROJECTS"  SHALL  MEAN  PROJECTS THAT
DEMONSTRATE A POTENTIAL FOR SUBSTANTIAL ECONOMIC GROWTH AND JOB DEVELOP-
MENT IN AN EMERGING TECHNOLOGY FIELD AS DEFINED  IN  SECTION  THIRTY-ONE
HUNDRED TWO-E OF THE PUBLIC AUTHORITIES LAW.
  (3) SELECTION OF ELIGIBLE RECIPIENTS. (A) ELIGIBLE RECIPIENTS SHALL BE
SELECTED  BY  THE  CORPORATION BASED ON THE STRENGTH OF THEIR PROPOSALS,
INCLUDING EVALUATION OF THE INNOVATIVE NATURE OF THE PROJECT, ITS  TECH-
NICAL  FEASIBILITY, COMMERCIAL VIABILITY AND THE POTENTIAL IMPACT ON THE
RETENTION AND CREATION OF NEW JOBS.
  (B) SMALL BUSINESSES MAY IDENTIFY DESIRED OR  POTENTIAL  RESEARCH  AND
DEVELOPMENT  PARTNERS  AS  PART  OF THEIR APPLICATIONS. ADVANCE DETERMI-
NATIONS OF THE BUSINESS' RESEARCH AND DEVELOPMENT PARTNER SHALL NOT BE A
REQUIREMENT FOR RECEIPT OF AN INNOVATION VOUCHER.
  (C) APPLICATIONS SHALL BE JUDGED BY AN ADVISORY COMMITTEE, OR REGIONAL
ADVISORY COMMITTEE,  APPOINTED  BY  THE  PRESIDENT  OF  THE  CORPORATION
CONSISTING  OF  MEMBERS OF THE HIGHER EDUCATION, SCIENCE AND TECHNOLOGY,
AND BUSINESS COMMUNITIES.
  (4) RESEARCH AND DEVELOPMENT PARTNERS. THE CORPORATION SHALL  IDENTIFY
A  LIST OF POTENTIAL RESEARCH AND DEVELOPMENT PARTNERS IN NEW YORK STATE
THAT HAVE APPROPRIATE FACILITIES AND RESOURCES  TO  PARTICIPATE  IN  THE
INNOVATION  VOUCHER  PROGRAM  AND  ARE  WILLING  TO ACCEPT VOUCHERS FROM
ELIGIBLE RECIPIENTS FOR PAYMENT OF THEIR SERVICES. THE LIST OF POTENTIAL
RESEARCH AND DEVELOPMENT PARTNERS  SHALL  BE  DISPLAYED  ON  THE  CORPO-
RATION'S WEBSITE, AND SHALL BE REVIEWED AND REVISED AT LEAST QUARTERLY.
  (5)  VOUCHERS AND MATCHING FUNDS. (A) THE CORPORATION, UPON THE RECOM-
MENDATION OF THE ADVISORY COMMITTEE, MAY AWARD VOUCHERS UP TO TEN  THOU-
SAND  DOLLARS  FOR EACH ELIGIBLE PROJECT. UPON THE RECOMMENDATION OF THE
ADVISORY COMMITTEE, THE CORPORATION MAY AWARD A VOUCHER IN AN AMOUNT  UP
TO  FIFTY THOUSAND DOLLARS WHERE A PROJECT IS DEEMED EXCEPTIONALLY INNO-
VATIVE. CRITERIA FOR DETERMINATION OF AWARDS SHALL BE ESTABLISHED BY THE
CORPORATION IN RULES AND REGULATIONS. ELIGIBLE  RECIPIENTS  SHALL  MATCH
THE  VALUE  OF  THE VOUCHER ON A DOLLAR-FOR-DOLLAR BASIS AND SHALL APPLY
SUCH AMOUNT TO THE VOUCHER-FUNDED PROJECT.
  (B) IF AN APPLICANT IS APPROVED BY THE CORPORATION FOR A VOUCHER BASED
ON THE MERITS OF AN ELIGIBLE PROJECT, SUCH ELIGIBLE RECIPIENT  SHALL  BE
AUTHORIZED  TO  ENTER  INTO  A  WORKING  AGREEMENT  WITH THE APPROPRIATE
RESEARCH AND DEVELOPMENT PARTNER. THE ELIGIBLE  RECIPIENT  SHALL  NOTIFY
THE CORPORATION OF THE RESEARCH AND DEVELOPMENT PARTNER COLLABORATION TO
BE  FORMED  TO  FURTHER RESEARCH AND DEVELOPMENT. PAYMENT OF THE VOUCHER
SHALL BE MADE BASED ON A PAYMENT STRUCTURE  ESTABLISHED  BY  THE  CORPO-
RATION  IN RULES AND REGULATIONS PROMULGATED PURSUANT TO SECTION FOUR OF
THIS ACT TO ADMINISTER A COLLABORATION.

S. 3894--A                          3

  (6) OUTREACH. TO ENSURE MAXIMUM AWARENESS OF  THE  INNOVATION  VOUCHER
PROGRAM,  THE  CORPORATION SHALL DEVELOP AND IMPLEMENT A PLAN TO DISSEM-
INATE INFORMATION AND MATERIALS TO SMALL BUSINESSES, INCLUDING  BUT  NOT
LIMITED TO MINORITY- AND WOMEN-OWNED ENTERPRISES AND VETERAN-OWNED BUSI-
NESSES.
  (7) REPORTS. THE CORPORATION SHALL POST QUARTERLY REPORTS STATING: THE
NUMBER  AND  MONETARY  VALUE  OF  VOUCHERS ISSUED; THE AMOUNT OF PROGRAM
FUNDING USED FOR THE VOUCHERS; THE RECIPIENT OF  THE  THE  VOUCHERS  AND
RESEARCH  AND  DEVELOPMENT PARTNER; AND ANY OTHER APPROPRIATE METRICS TO
MEASURE THE SUCCESS OF THE PROGRAM, INCLUDING BUT NOT  LIMITED  TO,  THE
NUMBER  OF JOBS CREATED OR RETAINED, THE NUMBER OF PATENTS PRODUCED AS A
RESULT OF THE COLLABORATION, A DESCRIPTION OF THE  ECONOMIC  DEVELOPMENT
IMPACT AND SUCH OTHER INFORMATION AS THE CORPORATION MAY DEEM NECESSARY.
SUCH  QUARTERLY  REPORTS  SHALL  ALSO INCLUDE A LIST OF CURRENT ADVISORY
COMMITTEE MEMBERS AND A LIST OF CURRENT RESEARCH AND  DEVELOPMENT  PART-
NERS APPROVED BY THE CORPORATION.
  (8) FUNDING. THE CORPORATION IS AUTHORIZED, WITHIN AVAILABLE APPROPRI-
ATIONS  IN  THE  EMPIRE  STATE  DEVELOPMENT FUND ESTABLISHED PURSUANT TO
SECTION SIXTEEN-M OF THIS ACT OR FROM ANY OTHER FUNDS  APPROPRIATED,  TO
MAKE INNOVATIVE VOUCHERS AVAILABLE TO ELIGIBLE RECIPIENTS.
  S  3. Subdivision 1 of section 16-m of section 1 of chapter 174 of the
laws of 1968, constituting the New York state urban  development  corpo-
ration act, is amended by adding a new paragraph (o) to read as follows:
  (O) VOUCHERS TO ELIGIBLE ENTITIES AS SET FORTH IN SECTION 16-X OF THIS
ACT  TO  SUPPORT THE NEW YORK STATE INNOVATION VOUCHER PROGRAM TO ASSIST
SMALL BUSINESS ACCESS  TO  RESEARCH  AND  DEVELOPMENT  BY  COLLEGES  AND
UNIVERSITIES,  GOVERNMENT LABORATORIES AND PUBLIC RESEARCH INSTITUTES TO
SUPPORT SUCH BUSINESSES  IN  THE  CREATION  OF  INNOVATIVE  PRODUCTS  OR
SERVICES.
  S  4.  Rules and regulations. The empire state development corporation
is authorized to promulgate rules and regulations in accordance with the
state administrative procedure act that  are  necessary  to  fulfil  the
purposes  of  this  act.  Such  rules and regulations shall be completed
within one hundred eighty days after the effective date of this act.
  S 5. This act shall take effect on the one hundred eightieth day after
it shall have become a law; provided, however, that  the  amendments  to
subdivision 1 of section 16-m of section 1 of chapter 174 of the laws of
1968, constituting the New York state urban development corporation act,
made  by  section  three  of this act shall not affect the expiration of
such section and shall be deemed to expire therewith; provided, further,
that any rules and regulations necessary for the  timely  implementation
of  this  act on its effective date may be promulgated on or before such
effective date.

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Senate Bill S3894A

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee

Bill Amendments

2015-S3894 - Details

2015-S3894 - Summary

2015-S3894 - Sponsor Memo

2015-S3894 - Bill Text download pdf

2015-S3894A (ACTIVE) - Details

2015-S3894A (ACTIVE) - Summary

2015-S3894A (ACTIVE) - Sponsor Memo

2015-S3894A (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S3894A

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Sponsored By

Rich Funke

Archive: Last Bill Status - In Senate Committee Finance Committee

Bill Amendments

2015-S3894 - Details

2015-S3894 - Summary

2015-S3894 - Sponsor Memo

2015-S3894 - Bill Text download pdf

2015-S3894A (ACTIVE) - Details

2015-S3894A (ACTIVE) - Summary

2015-S3894A (ACTIVE) - Sponsor Memo

2015-S3894A (ACTIVE) - Bill Text download pdf

Comments