What's happening
This bill creates a cross regional small business partnership program to encourage collaboration and job growth among New York small businesses.
Why it matters
Encourages collaboration between small businesses across different New York regions. , which may help overcome geographic and economic silos, leading to broader networks, shared resources, and increased innovation.
Requires promotion of New York-made, grown, or manufactured products. , potentially boosting local industries and keeping more economic activity within the state.
Supports the use of shared facilities for production and manufacturing. , which can help reduce overhead costs for small businesses, encourage joint ventures, and make it easier for startups or smaller firms to scale up.
Aims to drive job development throughout New York. , by fostering joint projects and partnerships that could create employment opportunities in multiple regions, rather than concentrating benefits in a single area.
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Who cares
Headline styles
Connect Small Businesses Statewide
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
History
- Referred to small business
- Referred to small business
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2960
2017-2018 Regular Sessions
IN ASSEMBLY
January 23, 2017
Introduced by M. of A. LENTOL, BRINDISI, LUPARDO -- read once and referred to the Committee on Small Business
AN ACT to amend the economic development law, in relation to establishing a cross regional small business partnership program
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 11 of section 134 of the economic development law, as amended by chapter 463 of the laws of 2016, is amended to read as follows:
11. provide assistance to small business in the state, and facilitate access to programs serving small business, to ensure that such businesses benefit, as needed, from technical, managerial, financial, and general business assistance; training; marketing; organization and personnel skill development; project management assistance; technology assistance; bond and insurance education assistance; online marketplace lending awareness and assistance; and other business development assistance. In addition, either independently or in conjunction with other state agencies:
(a) develop a clearinghouse of information on programs and services provided by entities that may assist such businesses;
(b) seek to maximize utilization by small businesses of available federal resources including but not limited to federal grants, loans, loan guarantees, surety bonding guarantees, technical assistance, and programs and services of the federal small business administration; [and]
(c) develop and implement, in conjunction with the department of financial services, a small business online marketplace lending education and outreach campaign to educate businesses in plain-language as to the true costs associated with obtaining loans from online marketplace lenders including true and up-front transparent pricing and terms, the disclosure of annualized percentage rates, interest rates, fees and
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03421-01-7
A. 2960 2
charges; disclosure of terms for repayment, early repayment, and refinancing of a loan and any penalties that may be applied; and any other information that is deemed necessary by the department of economic development. The department of economic development shall develop and implement a plan to distribute such information to small business owners, including but not limited to, printed material, publication on the internet and through coordination with other state entities that routinely interact with small businesses in this state. The department of economic development shall make translations of all educational materials available in languages other than English, including the six most common non-English languages spoken by individuals in this state[.]; and
(d) develop a cross regional small business partnership program that seeks to foster partnerships between small businesses from different regions of the state. The cross regional partnership program would be required to, but not be limited to, (i) initiate and encourage small business ventures that foster joint development in one or more regions of the state; (ii) promote the use of products that are grown, made, processed or manufactured in New York; (iii) promote the use of shared facilities, when feasible, for the processing, production or manufacturing of products; and (iv) encourage and promote job development within the state.
§ 2. This act shall take effect immediately; provided, however, if chapter 463 of the laws of 2016 shall not have taken effect on or before such date then section one of this act shall take effect on the same date and in the same manner as such chapter of the laws of 2016, takes effect.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.