What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Referred to rules
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S8294
Title of bill
An act to amend the executive law, in relation to grants awarded or matched by NYSTAR for the research development program
Purpose
This bill would provide enhancements to allow the Foundation to provide more assistance to small high-tech companies and help address regional needs.
Summary of provisions
Section one of the bill amends the technology transfer incentive program, allowing businesses to be lead applicants for program proposals and allows funds to be used to further encourage regional technology commercialization partnership efforts.
Section two is the effective date.
Justification
This bill would allow NYSTAR to provide more assistance to small high-tech companies and research institutions across the state. The first of these enhancements would allow companies to be the lead applicant in an incentive program proposal rather than restricting the lead applicants to universities and research institutions.
The second enhancement of the program would allow NYSTAR to provide better support in regional technology commercialization efforts. With this change NYSTAR would be able to provide grants to regional entities that would then make small grants to local high tech companies to assist them in their efforts to commercialize their products and services. This will help NYSTAR and the State more directly address regional needs and is aligned with the Task Force on Diversifying the New York State Economy though Industry-Higher Education Partnership recommendation of establishing regional hubs to provide better business assistance.
Legislative history
This is a new bill.
Fiscal implications
None.
Effective date
Effective immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.