Assembly Bill A9671

2017-2018 Legislative Session

Establishes the New York state innovation voucher program

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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-A9671 (ACTIVE) - Details

See Senate Version of this Bill:
S7546
Current Committee:
Assembly Small Business
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §16-bb, amd §16-m, UDC Act
Versions Introduced in Other Legislative Sessions:
2013-2014: A10195
2015-2016: A2126, S3894
2019-2020: A45, S4361
2021-2022: A6317, S205
2023-2024: A3549, S1862

2017-A9671 (ACTIVE) - 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.

2017-A9671 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9671
 
                           I N  A S S E M B L Y
 
                             January 31, 2018
                                ___________
 
 Introduced by M. of A. BUCHWALD -- read once and referred to the Commit-
   tee on Small Business
 
 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".
   § 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-bb to read as follows:
   § 16-BB. 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
 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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