Assembly Bill A8119

2017-2018 Legislative Session

Relates to the incubator program

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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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2017-A8119 (ACTIVE) - Details

See Senate Version of this Bill:
S5307
Current Committee:
Assembly Ways And Means
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd §16-v, UDC Act

2017-A8119 (ACTIVE) - Summary

Increases the number of New York state incubator hot spots from five to ten; makes related provisions.

2017-A8119 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8119
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 30, 2017
                                ___________
 
 Introduced  by  M.  of A. SCHIMMINGER -- (at request of the Empire State
   Development) -- read once and referred to the  Committee  on  Economic
   Development
 
 AN ACT to amend the New York State urban development corporation act, in
   relation to the incubator program
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (c) of subdivision 2 of section 16-v of section 1
 of chapter 174 of the laws of 1968,  constituting  the  New  York  State
 urban  development  corporation  act, as added by section 1 of part C of
 chapter 59 of the laws of 2013, is amended to read as follows:
   (c) The corporation,  subject  to  appropriations  provided  for  this
 purpose,  may  approve and designate [five] TEN New York state incubator
 hot spots [in fiscal year two thousand  thirteen-two  thousand  fourteen
 and  five  additional New York state innovation hot spots in fiscal year
 two thousand fourteen-two thousand  fifteen].  Such  designees  will  be
 required  to demonstrate an affiliation with and the application support
 of at least one college, university or independent research institution,
 and that its programs and purposes are consistent with regional economic
 development strategies.
   § 2. Paragraph (c) of subdivision 5 of section 16-v of  section  1  of
 chapter  174  of the laws of 1968, constituting the New York State urban
 development corporation act, as added by section 1 of part C of  chapter
 59 of the laws of 2013, is amended to read as follows:
   (c)  No deduction. In addition to the foregoing requirements, an incu-
 bator sponsor shall agree to dedicate  all  funds  from  any  grants  or
 support  received  pursuant to this subdivision to the operations of the
 incubator without deductions for [overhead,] indirect costs[, or facili-
 ties and administration charges] of such sponsor.
   § 3. Subdivision 6 of section 16-v of section 1 of chapter 174 of  the
 laws  of  1968, constituting the New York State urban development corpo-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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