assembly Bill A10156

Vetoed By Governor
2019-2020 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S2176 - 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 (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 27, 2020 vetoed memo.65
Nov 18, 2020 delivered to governor
Jul 21, 2020 returned to senate
passed assembly
ordered to third reading rules cal.200
substituted for a10156
Jul 21, 2020 substituted by s2176
Jul 20, 2020 ordered to third reading rules cal.200
rules report cal.200
reported
Jul 17, 2020 reported referred to rules
Jul 15, 2020 reported referred to ways and means
Mar 24, 2020 referred to small business

Votes

view votes

Feb 25, 2020 - Finance committee Vote

S2176
22
0
committee
22
Aye
0
Nay
0
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show committee vote details

Jan 21, 2020 - Corporations, Authorities and Commissions committee Vote

S2176
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Jan 21, 2020

Jun 14, 2019 - Rules committee Vote

S2176
19
0
committee
19
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Apr 8, 2019 - Corporations, Authorities and Commissions committee Vote

S2176
7
0
committee
7
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Apr 8, 2019

Co-Sponsors

A10156 (ACTIVE) - Details

See Senate Version of this Bill:
S2176
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
2017-2018: A2804, S6855

A10156 (ACTIVE) - Summary

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

A10156 (ACTIVE) - Bill Text download pdf


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

                                  10156

                          I N  A S S E M B L Y

                             March 24, 2020
                               ___________

Introduced by M. of A. STIRPE -- 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
SIXTY-EIGHT,  CONSTITUTING  THE  NEW YORK STATE URBAN DEVELOPMENT CORPO-
RATION ACT, the department shall have the power and duty and in  cooper-

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