What's happening
This bill requires New York state economic development programs to give preference and targeted support to small businesses and entrepreneurs, aiming to award them at least 20% of available funds.
Why it matters
Mandates active outreach and support. State agencies and authorities must not only prefer small businesses and entrepreneurs for economic development funds, but also actively market programs to them and provide direct assistance to help them access these funds. This shifts from passive eligibility to proactive inclusion.
Creates transparency and accountability. By requiring annual reporting on activities, funded proposals, and whether the 20% target was met, the bill introduces a mechanism for public oversight and pressure for continuous improvement in supporting small businesses and entrepreneurs.
Standardizes definitions and expectations. The bill establishes clear definitions for "small business" and "entrepreneur," ensuring consistency across all state economic development programs and reducing ambiguity in who qualifies for preference.
May influence program design and resource allocation. Agencies must design or modify their programs to meet the 20% goal, which could change how funding opportunities are structured, evaluated, and awarded—potentially shifting resources away from larger or established businesses toward new and smaller enterprises.
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Who cares
Headline styles
Favor Small Business Funding
Plain English, a few words. Used as the page title.
Sponsors
1 Multi-sponsor
History
- Referred to ways and means
- Reported referred to ways and means
- Referred to economic development
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.
Prioritize Small Business Funding
In Assembly Committee · Ways And Means · Sponsor Susan Serino
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3486
2017-2018 Regular Sessions
IN ASSEMBLY
January 27, 2017
Introduced by M. of A. SCHIMMINGER, JAFFEE, FAHY, McDONALD -- Multi- Sponsored by -- M. of A. PERRY -- read once and referred to the Committee on Economic Development
AN ACT to amend the economic development law, the public authorities law and the New York state urban development corporation act, in relation to providing a preference to small businesses and entrepreneurs in the award of state economic development assistance
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The economic development law is amended by adding a new section 101-a to read as follows:
§ 101-a. Preferences to small businesses and entrepreneurs. In each program administered by or on behalf of the department pursuant to an appropriation of funds, and consistent with any statute governing such program, preference shall be given to the award of such funds to small businesses and entrepreneurs. Such preference shall include, but not be limited to, active marketing of the program specifically to small businesses and entrepreneurs, providing assistance to individual small businesses and entrepreneurs in accessing available funds under the program, and establishing and working to meet the goal of awarding twenty percent of available funds under the program to small businesses and entrepreneurs. For purposes of this section, the term "entrepreneur" shall mean a person who organizes, operates, and assumes the risk of a start-up business venture. The department shall include in the annual report required pursuant to subdivision thirty-seven-a of section one hundred of this article a description of activities, a listing of proposals receiving financial assistance pursuant to this section and identify whether the twenty percent goal was met for each program.
§ 2. Section 1823 of the public authorities law is amended by adding a new subdivision 8 to read as follows:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04883-01-7
A. 3486 2
8. In each program administered by or on behalf of the authority, and consistent with any statute governing such program, preference shall be given to the award of such funds to small businesses and entrepreneurs. Such preference shall include, but not be limited to, active marketing of the program specifically to small businesses and entrepreneurs, providing assistance to individual small businesses and entrepreneurs in accessing available funds under the program, and establishing and working to meet the goal of awarding twenty percent of available funds under the program to small businesses and entrepreneurs. For purposes of this subdivision, the term "small business" shall have the same meaning as provided in section one hundred thirty-one of the economic development law and the term "entrepreneur" shall mean a person or persons who organizes, operates, and assumes the risk of a start-up business venture. The authority shall include in the annual program report required pursuant to section eighteen hundred twenty-nine-a of this title a description of activities, a listing of proposals provided with financial assistance pursuant to this section and identify whether the twenty percent goal was met for each program.
§ 3. Section 1 of chapter 174 of the laws of 1968 constituting the New York state urban development corporation act is amended by adding a new section 4-a to read as follows:
§ 4-a. Preferences to small businesses and entrepreneurs. In each program administered by or on behalf of the corporation pursuant to an appropriation of funds, and consistent with any statute governing such program, preference shall be given to the award of such funds to small businesses and entrepreneurs. Such preference shall include, but not be limited to, active marketing of the program specifically to small businesses and entrepreneurs, providing assistance to individual small businesses and entrepreneurs in accessing available funds under the program, and establishing and working to meet the goal of awarding twenty percent of available funds under the program to small businesses and entrepreneurs. For purposes of this section, the term "small business" shall have the same meaning as provided in section 131 of the economic development law and the term "entrepreneur" shall mean a person or persons who organizes, operates, and assumes the risk of a start-up business venture. The corporation shall include in the annual program report required pursuant to section thirty of this act a description of activities, a listing of proposals provided with financial assistance pursuant to this section and identify whether the twenty percent goal was met for each program.
§ 4. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
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