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- Referred to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
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Authorizes the urban development corporation to contract for the establishment of an African-American and African-Caribbean business development center
In Assembly Committee · Economic Development · Sponsor Karim Camara
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3612
Title of bill
An act to amend the New York state urban development corporation act, in relation to the establishment of an African-American and African-Caribbean business development center
Purpose or general idea of bill
This bill would provide permanent funds to create an African-American and African-Caribbean Business Development center within the New York State Urban Development Corporation to provide technical assistance and any such other information as deemed necessary to the African-American and African-Caribbean business community where it may begin to successfully participate in the programs established under the Omnibus Economic Development Act of 1987.
Summary of specific provisions
This bill would amend chapter 174 of the laws of 1968, constituting the New York State Urban Development Corporation, and adds a new section 9-g creating an entity that will be known as "The African-American and African-Caribbean Business Development Center".
Justification
One of the most significant obstacles to the successful development of the African-American and African-Caribbean business community in New York State has been proving difficulty in accessing information on state economic development programs, as well as a pronounced difficulty in obtaining working capital and project specific financing in order to aggressively compete for available state and local contracts.
The establishment of the African-American and African-Caribbean Business Development Center would bridge the gap in informational, legal, financial and technical assistance services available to the African-American and African-Caribbean Business Community. Centrally located to be easily accessible to African-American and African-Caribbean Business Community. Centrally located to be easily accessible to African-American and African-Caribbean firms seeking assistance, it would create a setting where alternate forms of business organization can be explored while serving a valuable role to develop viable firms who are not currently organized in a corporate form but otherwise represent sound, practical candidates for economic assistance.
Prior legislative history
2010: A.6852/S.3556 - Held in Finance 1991-92, A.12292; 3rd Reading Rules Cal. 1417 1993-94, A.5894; Passed Assembly 1995-96, A.3169; Referred to Economic Development 1999-00, A.1424; Referred to Economic Development
Fiscal implications for state and local government
None.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.