Senate Bill S4361

2019-2020 Legislative Session

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance 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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2019-S4361 (ACTIVE) - Details

See Assembly Version of this Bill:
A45
Current Committee:
Senate Finance
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: S3894, A2126
2017-2018: S817, S7546, A1260, A9671
2021-2022: S205, A6317
2023-2024: S1862, A3549

2019-S4361 (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.

2019-S4361 (ACTIVE) - Sponsor Memo

2019-S4361 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4361
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              March 11, 2019
                                ___________
 
 Introduced by Sens. KAPLAN, FUNKE -- read twice and ordered printed, and
   when printed to be committed to the Committee on Corporations, Author-
   ities and Commissions
 
 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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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