Creates the New York state center for the expansion of nanoscale science and engineering

Section 2. Amends article 10-a of the public authorities law to create a new title 3. This title creates the New York State Center for the Expansion of Nanoscale Science and Engineering.

*Section 3170 of title 3 provides definitions. *Section 3171 provides for the creation and governance of a new center, the Center for the Expansion of Nanoscale Science and Engineering (CENSE). The center shall be governed and all power exercised by a board of directors consisting of 9 voting members. The composition of the board is a follows: 5 directors shall be appointed by the Governor, one of whom shall be the CEO of SUNY Polytechnic, 1 appointed by the temporary president of the Senate, 1 appointed by the speaker of the Assembly, 1 appointed by the minority leader of the Senate and 1 appointed by the minority leader of the Assembly. Of the 9 appointed, at least 4 must have significant experience and leadership in the private sector. At least 2 members shall have significant experience in academia and research. At least 1 member shall have significant leadership and experience in government in the area of economic development. *Section 3172 sets forth the purpose of the center, its powers and its duties. *Section 3173 establishes selection of a CEO and senior management of the center *Section 3174 provides a blueprint for regional partnerships and how to establish them. *Section 3175 sets forth what constitutes conflicts of interest for board members. *Section 3176 sets for the ability for groups to make contributions to the center. *Section 3177 sets forth provisions for exemption from taxation *Section 3178 provides for annual audits and a report from the center and the center shall submit such annual report by April 1 of each year to the Governor, speaker of the Assembly and the temporary president of the Senate. The report shall include: total number of jobs created and retained through funding programs and services provide by the center; the number of start-up businesses created and existing businesses assisted; the leveraging of non-state funds; and the actual or anticipated invention, development or refinement of new products and processes with commercial application of importance to industries in the State.

Section 3. Sets forth an effective date of the ninetieth day after it shall have become a law.

Justification

It is clear that SUNY polytechnic Institute needs proper, specialized oversight in order to continue to develop and grow the nanotechnology industry in New York State. Growth of this industry is critical because its location plays a significant role in the revitalization of upstate New York and has attracted more than $43 billion in high-tech investments in the State.

Strengthening the governance of SUNY Polytechnic through the creation of CENSE with oversight from the Legislature and Executive Branches, as well as individuals with specialized experience in the field will help propel SUNY Polytechnic to even greater heights.

By creating this Center for oversight, it also provides a layer of transparency that did not previously exist with SUNY Polytechnic's dealing and creates a strong conflict of interest policy for all board members in order to prevent future issues with business dealings for this important initiative.

Legislative history

New bill.

Fiscal implications

TBD

Effective date

This act shall take effect on the ninetieth day after it shall have become a law.