Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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May 23, 2022 |
returned to senate passed assembly ordered to third reading rules cal.300 substituted for a6286 |
Mar 30, 2022 |
referred to ways and means delivered to assembly passed senate |
Mar 03, 2022 |
advanced to third reading |
Mar 02, 2022 |
2nd report cal. |
Mar 01, 2022 |
1st report cal.595 |
Jan 25, 2022 |
reported and committed to finance |
Jan 05, 2022 |
referred to corporations, authorities and commissions returned to senate died in assembly |
May 25, 2021 |
referred to ways and means delivered to assembly passed senate |
May 24, 2021 |
advanced to third reading |
May 20, 2021 |
2nd report cal. |
May 19, 2021 |
1st report cal.1210 |
May 04, 2021 |
reported and committed to finance |
Apr 26, 2021 |
referred to corporations, authorities and commissions |
Senate Bill S6394
2021-2022 Legislative Session
Relates to the creation of micro-business worker cooperatives upon transfer of ownership
download bill text pdfSponsored By
(D) 36th Senate District
Archive: Last Bill Status - Passed Senate & Assembly
- Introduced
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- In Committee Assembly
- In Committee Senate
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- On Floor Calendar Assembly
- On Floor Calendar Senate
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- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
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Floor Vote: Mar 30, 2022
aye (62)- Addabbo Jr.
- Akshar
- Bailey
- Biaggi
- Borrello
- Boyle
- Breslin
- Brisport
- Brooks
- Brouk
- Cleare
- Comrie
- Cooney
- Felder
- Gallivan
- Gaughran
- Gianaris
- Gounardes
- Griffo
- Harckham
- Helming
- Hinchey
- Hoylman-Sigal
- Jackson
- Jordan
- Kaminsky
- Kaplan
- Kavanagh
- Kennedy
- Krueger
- Lanza
- Liu
- Mannion
- Martucci
- Mattera
- May
- Mayer
- Myrie
- O'Mara
- Oberacker
- Ortt
- Palumbo
- Parker
- Persaud
- Ramos
- Rath III
- Reichlin-Melnick
- Ritchie
- Rivera
- Ryan
- Salazar
- Sanders Jr.
- Savino
- Sepúlveda
- Serino
- Serrano
- Stavisky
- Stec
- Stewart-Cousins
- Tedisco
- Thomas
- Weik
nay (1)
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Floor Vote: May 25, 2021
aye (62)- Addabbo Jr.
- Akshar
- Bailey
- Benjamin
- Biaggi
- Borrello
- Boyle
- Breslin
- Brisport
- Brooks
- Brouk
- Comrie
- Cooney
- Felder
- Gallivan
- Gaughran
- Gianaris
- Gounardes
- Griffo
- Harckham
- Helming
- Hinchey
- Hoylman-Sigal
- Jackson
- Jordan
- Kaminsky
- Kaplan
- Kavanagh
- Kennedy
- Krueger
- Lanza
- Liu
- Mannion
- Martucci
- Mattera
- May
- Mayer
- Myrie
- O'Mara
- Oberacker
- Ortt
- Palumbo
- Parker
- Persaud
- Ramos
- Rath III
- Reichlin-Melnick
- Ritchie
- Rivera
- Ryan
- Salazar
- Sanders Jr.
- Savino
- Sepúlveda
- Serino
- Serrano
- Stavisky
- Stec
- Stewart-Cousins
- Tedisco
- Thomas
- Weik
nay (1)
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Mar 1, 2022 - Finance Committee Vote
S639422Aye0Nay1Aye with Reservations0Absent0Excused0AbstainedMay 19, 2021 - Finance Committee Vote
S639422Aye0Nay1Aye with Reservations0Absent0Excused0AbstainedJan 25, 2022 - Corporations, Authorities And Commissions Committee Vote
S63946Aye0Nay1Aye with Reservations0Absent0Excused0Abstained -
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co-Sponsors
(D, WF) 41st Senate District
2021-S6394 (ACTIVE) - Details
2021-S6394 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6394 SPONSOR: BAILEY TITLE OF BILL: An act to amend the New York state urban development corporation act and the economic development law, in relation to the creation of micro-busi- ness worker cooperatives upon transfer of ownership PURPOSE OR GENERAL IDEA OF BILL: This bill would provide for assistance in the creation of micro-business worker cooperatives upon transfer of ownership of an existing business. SUMMARY OF PROVISIONS: This bill would add a new paragraph (o) to subdivision 1 of section 16-m of the New York State Urban Development Corporation Act that would make micro-business worker cooperatives upon transfer of ownership of an existing business, eligible to apply for assistance under the Economic Development Fund.
Further, this legislation would amend section 104-a of the Economic Development Law relating to Department of Economic Development to provide assistance to micro-business worker cooperatives by expanding the State entities that the Department must work in cooperation with the Empire State Development Corporation and any other applicable state agency or office. JUSTIFICATION: The purpose of this legislation is to provide an additional source of funding to eligible worker-owned cooperatives upon the transfer of ownership of an existing micro-business. This legislation would help ensure that a viable business remains open and that the workers current- ly employed by a business would have the ability to buy an existing business. Creation of worker cooperatives is another tool to help support a vibrant Main Street in our communities. Historically, worker cooperatives offer workers with the opportunity to become business owners. Worker ownership would convey to the workers the opportunity to further improve their business, have increased control over their work environment, and increased their long-term job security. Worker cooperative also provide economic benefits to their home communi- ties in the form of a stable tax base and retention of valuable jobs. LEGISLATIVE HISTORY: 2019-20: S2176/A10156(Stirpe)- Passed both houses, vetoed by Governor FISCAL IMPLICATIONS: Undetermined. EFFECTIVE DATE: This act shall take effect immediately, provided, however, that the amendments to section sixteen-m of the Urban Development Corporation Act made by section one of this act shall not affect the expiration of such section and shall be deemed to expire therewith.
2021-S6394 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6394 2021-2022 Regular Sessions I N S E N A T E April 26, 2021 ___________ Introduced by Sen. BAILEY -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
LBD06858-01-1 S. 6394 2 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- ation with the job development authority, THE EMPIRE STATE DEVELOPMENT CORPORATION AND ANY OTHER APPLICABLE STATE AGENCY OR OFFICE to: § 3. This act shall take effect immediately, provided, however, that the amendments to section 16-m of the urban development corporation act made by section one of this act shall not affect the expiration of such section and shall be deemed to expire therewith.
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