NY State Senate Bill 2023-S2005

Current Bill Status - In Senate Committee Corporations, Authorities And Commissions 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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2024	referred to corporations, authorities and commissions
Jan 18, 2023	referred to corporations, authorities and commissions

2023-S2005 (ACTIVE) - Details

See Assembly Version of this Bill:: A2431
Current Committee:: Senate Corporations, Authorities And Commissions
Law Section:: New York State Urban Development Corporation Act
Laws Affected:: Add §§16-hh & 16-ii, UDC Act
Versions Introduced in 2021-2022 Legislative Session:: S4636, A6859

2023-S2005 (ACTIVE) - Summary

Creates the NYS entrepreneurial training act to provide grants to eligible applicants to support and train entrepreneurial candidates.

2023-S2005 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S2005

SPONSOR: SANDERS
 
TITLE OF BILL:

An act to amend the New York state urban development corporation act, in
relation to creating the "NYS entrepreneurial training act"

 
PURPOSE:

This bill would amend the New York state urban development corporation
act to establish the NYS Entrepreneurial Training Act.

 
SUMMARY OF PROVISIONS:

1 of this bill titles this bill the NYS Entrepreneurial Training Act.

Section 2:

1. Establishes the NYS Entrepreneurial Training Act within the empire
state development corporation.

2. In order for an eligible applicant to receive an award of an annual
grant an applicant shall submit with its application a gradable business
plan for the use of the grant money.

3. Program must include at least 20% participants who qualify as MWBEs
under NYS law and must include at least 10% participants who are veter-
ans of the U.S. military.

4. Cities of over 1,000,000 people shall be allocated $5,000,000 for a
program to train entrepreneurial candidates. $1,000,000 for the opera-
tion of the program. $4,000,000 for 400 $10,000 grants to successful
graduates of the program.

5. Cities and towns of over 90,000 people shall be allocated $500,000
for a program to train entrepreneurial candidates. $100,000 for the
operation of the program. $400,000 for 40 $10,000 grants to successful
graduates of the program.

Section 3: Effective date.

 
EXISTING LAW:

Such program does not exist under current law.

 
JUSTIFICATION:

According the Bureau of Labor Statistics, since the last recession, from
mid-2009 to 2011, small firms accounted for 67 percent of the net new
jobs. As New York State continues to struggle through an economic down-
turn due to the COVID-19 pandemic, this program is needed more than
ever.

As a way to stimulate start-up businesses and job creation, the NYS
Entrepreneurial Training Act will help train potential entrepreneurs.
Instead of just handing money over to potential entrepreneurs, NYS
Entrepreneurial Training Act will train them how to start and manage a
business. Training potential entrepreneurs will make their start-up
businesses more like to succeed. As the new businesses begin to grow,
they will hire new employees and increase tax revenues to the state.

 
LEGISLATIVE HISTORY:

2015: REFERRED TO SENATE EDUCATION

2016: REFERRED TO SENATE EDUCATION

2017: REFERRED TO SENATE EDUCATION

2018: REFERRED TO SENATE EDUCATION

2019: REFERRED TO SENATE EDUCATION

2020: REFERRED TO SENATE EDUCATION

2021: REFERRED TO SENATE CORPORATIONS, AUTHORITIES AND COMMISSIONS

2021: referred to assembly economic development

2022: REFERRED TO SENATE CORPORATIONS, AUTHORITIES AND COMMISSIONS

2022: referred to assembly economic development

 
FISCAL IMPLICATIONS:

The initial cost to the state will be approximately $5.5 million. Over
time, the state will receive additional taxes, including sales and
employments taxes, that is undetermined at this time.

 
LOCAL FISCAL IMPLICATIONS:

None

 
EFFECTIVE DATE:
This act shall take effect immediately.

2023-S2005 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2005
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 18, 2023
                                ___________
 
 Introduced  by  Sen. SANDERS -- 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, in
   relation to creating the "NYS entrepreneurial training act"

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act shall be known and may be cited as the "NYS entre-
 preneurial training 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
 two new sections 16-hh and 16-ii to read as follows:
   § 16-HH. ENTREPRENEURIAL TRAINING GRANT PROGRAM. 1.  THERE  IS  HEREBY
 ESTABLISHED WITHIN THE EMPIRE STATE DEVELOPMENT CORPORATION AN ENTREPRE-
 NEURIAL  TRAINING GRANT PROGRAM. THE PROGRAM SHALL BE FORMULATED BY SUCH
 CORPORATION AND ADMINISTERED  BY  INDIVIDUAL  PARTICIPATING  CITIES  AND
 TOWNS.   THE PURPOSE OF THE PROGRAM SHALL BE TO PROVIDE GRANTS TO ELIGI-
 BLE APPLICANTS TO SUPPORT AND TRAIN ENTREPRENEURIAL CANDIDATES.
   2. IN ORDER FOR AN ELIGIBLE APPLICANT TO RECEIVE AN AWARD OF AN ANNUAL
 GRANT AN APPLICANT SHALL SUBMIT WITH ITS APPLICATION A GRADABLE BUSINESS
 PLAN FOR THE USE OF THE GRANT MONEY.
   3. A MINIMUM OF TWENTY PERCENT OF  THE  PARTICIPANTS  OF  THE  PROGRAM
 SHALL  BE  NEW YORK STATE CERTIFIED MINORITY AND WOMEN'S BUSINESS ENTER-
 PRISES AND A MINIMUM OF TEN PERCENT SHALL  BE  VETERANS  OF  THE  UNITED
 STATES MILITARY.
   §  16-II.  ENTREPRENEURIAL  TRAINING  GRANT  PROGRAM AWARDS. 1. WITHIN
 AMOUNTS APPROPRIATED THEREFOR, THE EMPIRE STATE DEVELOPMENT  CORPORATION
 SHALL  BE  AUTHORIZED TO GRANT AWARDS FOR THE SUPPORT OF APPROVED ENTRE-
 PRENEURIAL TRAINING GRANT PROGRAMS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03233-01-3
 S. 2005                             2

   2. GRANTS  TO  SUPPORT  AN  APPROVED  ENTREPRENEURIAL  TRAINING  GRANT
 PROGRAM  SHALL  BE  AWARDED  ON  A  COMPETITIVE BASIS IN ACCORDANCE WITH
 CRITERIA ESTABLISHED BY THE EMPIRE STATE DEVELOPMENT CORPORATION.
   3. THE EMPIRE STATE DEVELOPMENT CORPORATION SHALL, FROM WITHIN AMOUNTS
 APPROPRIATED  TO SUCH CORPORATION, UNDERTAKE ALL ACTIVITIES NECESSARY TO
 PLAN FOR AND PRELIMINARILY PROVIDE FOR THE TIMELY IMPLEMENTATION OF  THE
 ENTREPRENEURIAL  TRAINING GRANT PROGRAM AUTHORIZED BY SECTION SIXTEEN-HH
 OF THIS ACT FOR THE STATE FISCAL YEAR COMMENCING ONE YEAR FOLLOWING  THE
 EFFECTIVE DATE OF THIS SECTION.
   4.  PARTICIPATING  CITIES  HAVING  A POPULATION OF ONE MILLION OR MORE
 SHALL BE ALLOCATED FIVE MILLION DOLLARS. ONE MILLION  DOLLARS  SHALL  BE
 USED  FOR  THE  OPERATION  OF THE PROGRAM. FOUR MILLION DOLLARS SHALL BE
 USED TO GRANT FOUR HUNDRED TEN  THOUSAND  DOLLAR  GRANTS  TO  SUCCESSFUL
 GRADUATES OF THE PROGRAM.
   5. PARTICIPATING CITIES AND TOWNS HAVING A POPULATION OF BETWEEN NINE-
 TY  THOUSAND  AND  LESS THAN ONE MILLION SHALL BE ALLOCATED FIVE HUNDRED
 THOUSAND DOLLARS. ONE HUNDRED THOUSAND DOLLARS SHALL  BE  USED  FOR  THE
 OPERATION OF THE PROGRAM. FOUR HUNDRED THOUSAND DOLLARS SHALL BE USED TO
 GRANT  FORTY  TEN  THOUSAND DOLLAR GRANTS TO SUCCESSFUL GRADUATES OF THE
 PROGRAM.
   § 3. This act shall take effect immediately.

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Senate Bill S2005

Sponsored By

Current Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

2023-S2005 (ACTIVE) - Details

2023-S2005 (ACTIVE) - Summary

2023-S2005 (ACTIVE) - Sponsor Memo

2023-S2005 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S2005

Share this bill

Sponsored By

James Sanders Jr.

Current Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee

2023-S2005 (ACTIVE) - Details

2023-S2005 (ACTIVE) - Summary

2023-S2005 (ACTIVE) - Sponsor Memo

2023-S2005 (ACTIVE) - Bill Text download pdf

Comments