|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Mar 03, 2023||referred to commerce, economic development and small business|
senate Bill S5407
Current Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S5407 (ACTIVE) - Details
- Current Committee:
- Senate Commerce, Economic Development And Small Business
- Law Section:
- Economic Development Law
- Laws Affected:
- Add §101-a, Ec Dev L; amd §1823, Pub Auth L; add §4-a, UDC Act
- Versions Introduced in Other Legislative Sessions:
2015-2016: S2089, S6588
S5407 (ACTIVE) - Summary
Requires the department of economic development, job development authority, and urban development corporation to provide preferences to small businesses and entrepreneurs in the administration of their economic development assistance programs; requires annual reports thereon.
S5407 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5407 SPONSOR: ROLISON TITLE OF BILL: An act to amend the economic development law, the public authorities law and the New York state urban development corporation act, in relation to providing a preference to small businesses and entrepreneurs in the award of state economic development assistance PURPOSE: To require that State economic development agencies give preference to the small businesses and entrepreneurs in the award of State economic development assistance. SUMMARY OF PROVISIONS: This bill amends the economic development law, the public authorities law with respect to the Job Development Authority and the New York State Office of Science, Technology and Academic Research and the Urban Devel- opment Corporation Act.
S5407 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5407 2023-2024 Regular Sessions I N S E N A T E March 3, 2023 ___________ Introduced by Sen. ROLISON -- read twice and ordered printed, and when printed to be committed to the Committee on Commerce, Economic Devel- opment and Small Business AN ACT to amend the economic development law, the public authorities law and the New York state urban development corporation act, in relation to providing a preference to small businesses and entrepreneurs in the award of state economic development assistance THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The economic development law is amended by adding a new section 101-a to read as follows: § 101-A. PREFERENCES TO SMALL BUSINESSES AND ENTREPRENEURS. IN EACH PROGRAM ADMINISTERED BY OR ON BEHALF OF THE DEPARTMENT PURSUANT TO AN APPROPRIATION OF FUNDS, AND CONSISTENT WITH ANY STATUTE GOVERNING SUCH PROGRAM, PREFERENCE SHALL BE GIVEN TO THE AWARD OF SUCH FUNDS TO SMALL BUSINESSES AND ENTREPRENEURS. SUCH PREFERENCE SHALL INCLUDE, BUT NOT BE LIMITED TO, ACTIVE MARKETING OF THE PROGRAM SPECIFICALLY TO SMALL BUSI- NESSES AND ENTREPRENEURS, PROVIDING ASSISTANCE TO INDIVIDUAL SMALL BUSI- NESSES AND ENTREPRENEURS IN ACCESSING AVAILABLE FUNDS UNDER THE PROGRAM, AND ESTABLISHING AND WORKING TO MEET THE GOAL OF AWARDING TWENTY PERCENT OF AVAILABLE FUNDS UNDER THE PROGRAM TO SMALL BUSINESSES AND ENTREPRE- NEURS. FOR PURPOSES OF THIS SECTION, THE TERM "ENTREPRENEUR" SHALL MEAN A PERSON WHO ORGANIZES, OPERATES, AND ASSUMES THE RISK OF A START-UP BUSINESS VENTURE. THE DEPARTMENT SHALL INCLUDE IN THE ANNUAL REPORT REQUIRED PURSUANT TO SUBDIVISION THIRTY-SEVEN-A OF SECTION ONE HUNDRED OF THIS ARTICLE A DESCRIPTION OF ACTIVITIES, A LISTING OF PROPOSALS RECEIVING FINANCIAL ASSISTANCE PURSUANT TO THIS SECTION AND IDENTIFY WHETHER THE TWENTY PERCENT GOAL WAS MET FOR EACH PROGRAM. § 2. Section 1823 of the public authorities law is amended by adding a new subdivision 8 to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09146-01-3 S. 5407 2
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.