assembly Bill A2804A

Vetoed By Governor
2017-2018 Legislative Session

Relates to the creation of micro-business worker cooperatives upon transfer of ownership

download bill text pdf

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Archive: Last Bill Status - Vetoed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Vetoed by Governor

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Actions

view actions (26)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Dec 07, 2018 tabled
vetoed memo.274
Nov 26, 2018 delivered to governor
Jun 18, 2018 returned to assembly
passed senate
3rd reading cal.1849
substituted for s6855a
committed to rules
returned to senate
repassed assembly
Jun 13, 2018 amended on third reading 2804a
Jun 13, 2018 vote reconsidered - restored to third reading
recalled from senate
Mar 19, 2018 referred to corporations, authorities and commissions
delivered to senate
passed assembly
Jan 03, 2018 ordered to third reading cal.223
returned to assembly
died in senate
May 09, 2017 referred to commerce, economic development and small business
delivered to senate
passed assembly
May 04, 2017 advanced to third reading cal.273
May 02, 2017 reported
Feb 14, 2017 reported referred to ways and means
Jan 23, 2017 referred to small business

A2804 - Details

See Senate Version of this Bill:
S6855
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd §16-m, UDC Act; amd §104-a, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2015-2016: A10099
2019-2020: A10156, S2176

A2804 - Summary

Relates to the creation of micro-business worker cooperatives upon transfer of ownership.

A2804 - Bill Text download pdf


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

                                  2804

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 23, 2017
                               ___________

Introduced by M. of A. THIELE -- Multi-Sponsored by -- M. of A. LOPEZ --
  read once and referred to the Committee on Small Business

AN ACT to amend the New York state urban development corporation act and
  the economic development law, in relation to the creation of micro-bu-
  siness worker cooperatives upon transfer of ownership

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. 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, is amended by adding a new paragraph  (o)  to  read  as
follows:
  (O)  ASSISTANCE TO ELIGIBLE ENTITIES PURSUANT TO ARTICLE FIVE-A OF THE
COOPERATIVE CORPORATIONS LAW TO PROVIDE FINANCING IN THE FORM OF  LOANS,
LOAN  GUARANTEES,  AND  INTEREST  SUBSIDY GRANTS TO SUBSIDIZE LOANS FROM
FEDERALLY CHARTERED INSTRUMENTALITIES  AND  STATE  AND  PRIVATE  LENDING
INSTITUTIONS  TO  FACILITATE  THE  CREATION  OF WORKER COOPERATIVES THAT
PROMOTE CONTINUATION OF EXISTING MICRO-BUSINESSES EITHER AS A PART OF  A
PREEXISTING  BUSINESS  SUCCESSION  OF  OWNERSHIP  PLAN OR AS ALTERNATIVE
OPTION IF A BUSINESS IS BEING  OFFERED  FOR  SALE  OR  TRANSFER  BY  THE
CURRENT  OWNER  OR  THE  HEIRS  OR  ESTATE  OF A DECEASED OWNER. FOR THE
PURPOSES OF THIS SECTION, A MICRO-BUSINESS SHALL BE DEFINED AS  A  BUSI-
NESS  WITH FIVE OR LESS FULL-TIME OR FULL-TIME EQUIVALENT EMPLOYEES. ALL
ELIGIBLE ENTITIES SHALL BE REQUIRED TO SUBMIT A BUSINESS PLAN WITH THEIR
APPLICATION REQUESTING ASSISTANCE.
  § 2. The opening paragraph of section 104-a of the  economic  develop-
ment  law,  as  added  by chapter 788 of the laws of 1983, is amended to
read as follows:
  With respect to employee ownership assistance loans  provided  for  in
subtitle  six  of title eight of article eight of the public authorities
law AND PARAGRAPH (O) OF SUBDIVISION ONE OF SECTION SIXTEEN-M OF SECTION
ONE OF CHAPTER ONE HUNDRED SEVENTY-FOUR OF THE LAWS OF NINETEEN  HUNDRED

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

A2804A (ACTIVE) - Details

See Senate Version of this Bill:
S6855
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd §16-m, UDC Act; amd §104-a, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2015-2016: A10099
2019-2020: A10156, S2176

A2804A (ACTIVE) - Summary

Relates to the creation of micro-business worker cooperatives upon transfer of ownership.

A2804A (ACTIVE) - Bill Text download pdf


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

                                 2804--A
                                                        Cal. No. 223

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 23, 2017
                               ___________

Introduced by M. of A. THIELE -- read once and referred to the Committee
  on  Small  Business -- advanced to a third reading, passed by Assembly
  and delivered to the Senate, recalled from the Senate, vote  reconsid-
  ered,  bill  amended,  ordered  reprinted,  retaining its place on the
  order of third reading

AN ACT to amend the New York state urban development corporation act and
  the economic development law, in relation to the creation of micro-bu-
  siness worker cooperatives upon transfer of ownership

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  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,  is  amended  by adding a new paragraph (o) to read as
follows:
  (O) ASSISTANCE TO ELIGIBLE ENTITIES PURSUANT TO ARTICLE FIVE-A OF  THE
COOPERATIVE  CORPORATIONS LAW TO PROVIDE FINANCING IN THE FORM OF LOANS,
LOAN GUARANTEES, AND INTEREST SUBSIDY GRANTS  TO  SUBSIDIZE  LOANS  FROM
FEDERALLY  CHARTERED  INSTRUMENTALITIES  AND  STATE  AND PRIVATE LENDING
INSTITUTIONS TO FACILITATE THE  CREATION  OF  WORKER  COOPERATIVES  THAT
PROMOTE  CONTINUATION OF EXISTING MICRO-BUSINESSES EITHER AS A PART OF A
PREEXISTING BUSINESS SUCCESSION OF  OWNERSHIP  PLAN  OR  AS  ALTERNATIVE
OPTION  IF  A  BUSINESS  IS  BEING  OFFERED  FOR SALE OR TRANSFER BY THE
CURRENT OWNER OR THE HEIRS OR  ESTATE  OF  A  DECEASED  OWNER.  FOR  THE
PURPOSES  OF  THIS SECTION, A MICRO-BUSINESS SHALL BE DEFINED AS A BUSI-
NESS WITH FIVE OR LESS FULL-TIME OR FULL-TIME EQUIVALENT EMPLOYEES.  ALL
ELIGIBLE ENTITIES SHALL BE REQUIRED TO SUBMIT A BUSINESS PLAN WITH THEIR
APPLICATION REQUESTING ASSISTANCE.
  §  2.  The opening paragraph of section 104-a of the economic develop-
ment law, as added by chapter 788 of the laws of  1983,  is  amended  to
read as follows:

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