assembly Bill A7731

2019-2020 Legislative Session

Relates to the establishment of a state university-based center for employee ownership; repealer

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Archive: Last Bill Status - In Assembly Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to economic development
May 17, 2019 referred to economic development

Co-Sponsors

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A7731 (ACTIVE) - Details

See Senate Version of this Bill:
S2184
Law Section:
Economic Development Law
Laws Affected:
Rpld & add §104-a, Ec Dev L; amd §§1836-a, 1836-b, 1836-c, 1836-d & 1836-e, Pub Auth L; amd §612, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: S5685
2021-2022: A6125, S3313

A7731 (ACTIVE) - Summary

Relates to the establishment of a state university-based center for employee ownership.

A7731 (ACTIVE) - Bill Text download pdf


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

                                  7731

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                              May 17, 2019
                               ___________

Introduced  by  M.  of A. WRIGHT, COLTON, D'URSO, DICKENS, SIMON -- read
  once and referred to the Committee on Economic Development

AN ACT to amend the economic development law, the public authorities law
  and the tax law, in relation to the establishment of a state universi-
  ty-based  center  for  employee  ownership;  and  to  repeal   certain
  provisions of the economic development law relating thereto

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

  Section 1. Section 104-a of the economic development law  is  REPEALED
and a new section 104-a is added to read as follows:
  § 104-A. ESTABLISHMENT OF A STATE UNIVERSITY-BASED CENTER FOR EMPLOYEE
OWNERSHIP.  WITH  RESPECT  TO  EMPLOYEE  OWNERSHIP, THE DEPARTMENT SHALL
ESTABLISH A STATE UNIVERSITY-BASED CENTER FOR  EMPLOYEE  OWNERSHIP  "THE
CENTER".
  1. THE CENTER SHALL:
  (A) PROVIDE EDUCATION AND OUTREACH TO INFORM BUSINESS OWNERS ABOUT THE
BENEFITS OF EMPLOYEE OWNERSHIP SUCCESSIONS;
  (B)   ORGANIZE   WORKSHOPS   AND  CONFERENCES  ON  EMPLOYEE  OWNERSHIP
SUCCESSIONS;
  (C) PREPARE AND DISTRIBUTE  MATERIALS  CONCERNING  EMPLOYEE  OWNERSHIP
SUCCESSIONS;
  (D)  PROVIDE  INITIAL  CONSULTATION  TO  BUSINESS OWNERS EXPLORING THE
POSSIBILITY OF TRANSFERRING FULL OR PARTIAL OWNERSHIP TO EMPLOYEES;
  (E) PROVIDE A REFERRAL SERVICE TO HELP  BUSINESS  OWNERS  FIND  LEGAL,
FINANCIAL,  AND  TECHNICAL  ADVICE IN CONNECTION WITH EMPLOYEE OWNERSHIP
SUCCESSIONS;
  (F) PARTNER WITH KEY ORGANIZATIONS, SUCH  AS  PROFESSIONAL  AND  TRADE
ASSOCIATIONS,   FINANCIAL  INSTITUTIONS,  UNIONS,  ECONOMIC  DEVELOPMENT
ORGANIZATIONS, AND OTHER NON-PROFIT ENTITIES, TO PROMOTE EMPLOYEE OWNER-
SHIP SUCCESSIONS;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05608-02-9