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Sponsors
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History
- Substituted by A4097
- Ordered to third reading cal.904
- Committee discharged and committed to rules
- Reported and committed to finance
- Referred to commerce, economic development and small business
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Expands the membership of small-business and minority and women-owned business advisory boards; powers and duties of divisions for development
Signed by Governor · Sponsor Joan Millman
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the economic development law, in relation to membership of the small-business advisory board and the minority and women-owned business advisory board; and to amend the economic development law, the executive law, and the state finance law, in relation to the powers and duties of the division for small-business and the division of minority and women's business development
Purpose or general idea of bill
To improve the outreach efforts of the Department of Economic Development's Divisions for Small Business and Minority and Women's Business Development.
Summary of specific provisions
Sections 1 and 2 add individuals representing banking, community development financial, insurance or surety bonding institutions to both the Minority and Women-Owned Business Enterprise Advisory Board and the Small Business Advisory Board. Section 3 removes an outdated reference to a repealed section of law and requires the Division for Small Business' information and outreach program for potential state contractors to include information about surety bonding requirements. Sections 4and 5 expand the powers and duties of the Division for Small Business, and the Division of Minority and Women's Business Development, in providing and facilitating access to programs that provide business development assistance. Section 6 requires the Office for General Services to include information about surety bonding requirements in their annual regional training programs for minority and women-owned businesses.
Effects of present law which this bill would alter
Increases membership of advisory boards; specifies inclusion of information on surety bonding in training programs for potential state contractors; augments powers and duties of Division for Small Business and Division of Minority and Women's Business Development.
Justification
In testimony at Assembly hearings and in published reports, small and minority and women-owned businesses have repeatedly expressed the need for better access to working capital, insurance and surety bonding. Adding representatives from the financial community to the Small Business and Minority and Women-Owned Business Advisory Boards will facilitate communication between these two sectors. This legislation will also augment the role of the OED Divisions for Small Business and Minority and Women's Business Development as gateways for access to the complex and confusing network of state, federal and local programs that are potential sources of business development assistance, including financing resources such as loans, loan guarantees, and surety bond guarantees. To conserve scarce state resources, it asks OED to seek to maximize the utilization of federal resources available to small, minority and women~owned businesses. Finally, to address one of the barriers to increased participation by small and minority and women-owned businesses in state contracts, this legislation ensures that the state's outreach programs for small and minority and women-owned potential state contractors include information on access to surety bonding.
Prior legislative history
2008: A.2329-A/S.5202-A
Effective date
Immediately, provided that the required appointments pursuant to sections 1 and 2 of the Act shall be made by April 1, 2010.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.