What's happening
This bill creates the NYS Entrepreneurial Training Act of 2019, establishing grant programs to support and train aspiring entrepreneurs, with specific allocations for minority, women, and veteran participants.
Why it matters
Direct financial support is tied to a business plan. , requiring applicants to submit a “gradable” business plan to receive grant funding—this encourages participants to develop concrete, actionable ideas and ensures public funds back promising ventures.
Targeted inclusion of underrepresented groups. , with at least 20% of program participants required to be certified minority and women’s business enterprises, and at least 10% veterans, aiming to address historic disparities in entrepreneurial access and support.
Significant grant awards for successful program graduates. , with allocations structured so that larger cities (population 1 million+) can distribute $410,000 grants and mid-sized cities (100,000–1 million) can distribute $10,000 grants, potentially enabling transformative business launches, especially in underserved communities.
City-based program delivery with state oversight. , meaning local administration can tailor support to community needs, while statewide criteria ensure program consistency and accountability, potentially improving both effectiveness and equity.
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Who cares
Headline styles
Fund Entrepreneur Training Grants
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
History
- Referred to education
- Referred to education
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2479
2019-2020 Regular Sessions
IN SENATE
January 25, 2019
Introduced by Sens. SANDERS, SEPULVEDA -- read twice and ordered printed, and when printed to be committed to the Committee on Education
AN ACT to amend the education law, in relation to creating the "NYS entrepreneurial training act of 2019"
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. This act shall be known and may be cited as the "NYS entrepreneurial training act of 2019".
§ 2. The education law is amended by adding two new sections 4608 and 4609 to read as follows:
§ 4608. Entrepreneurial training grant program. 1. There is hereby established within the department an entrepreneurial training grant program. The program shall be formulated by the commissioner and administered by individual participating cities. The purpose of the program shall be to provide grants to eligible applicants to support and train entrepreneurial candidates.
2. In order for an eligible applicant to receive an award of an annual grant an applicant shall submit with its application a gradable business plan for the use of the grant money.
3. A minimum of twenty percent of the participants of the program shall be New York state certified minority and women's business enterprises and a minimum of ten percent shall be veterans of the United States military.
§ 4609. Entrepreneurial training grant program awards. 1. Within amounts appropriated therefor, the commissioner shall be authorized to grant awards for the support of approved entrepreneurial training grant programs.
2. Grants to support an approved entrepreneurial training grant program shall be awarded on a competitive basis in accordance with criteria established by the commissioner.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08746-01-9
S. 2479 2
3. The department shall, from within amounts appropriated to the department, undertake all activities necessary to plan for and preliminarily provide for the timely implementation of the entrepreneurial training grant program authorized by this article for the state fiscal year commencing one year following the effective date of this section.
4. Participating cities having a population of one million or more shall be allocated five million dollars. One million dollars shall be used for the operation of the program. Four million dollars shall be used to grant four hundred ten thousand dollar grants to successful graduates of the program.
5. Participating cities having a population of between one hundred thousand and less than one million shall be allocated five hundred thousand dollars. One hundred thousand dollars shall be used for the operation of the program. Four hundred thousand dollars shall be used to grant forty ten thousand dollar grants to successful graduates of the program.
§ 3. This act shall take effect immediately; provided, however that the commissioner of education shall have the authority to promulgate any rules or regulations necessary for the implementation of this act.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the education law, in relation to creating the "NYS entrepreneurial training act of 2019"
Purpose
This bill would amend the education law to establish the NYS Entrepre- neurial Training Act of 2017.
Summary of provisions
§ 1 of this bill titles this bill the NYS Entrepreneurial Training Act of 2016.
Subsection 2 details the provisions of the act as follows.
1. Cities of over 100,000 people shall be allocated $500,000 for a program to train entrepreneurial candidates.
a. $100,000 for the operation of the program
b. $400,000 for 40 $10,000 grants to successful graduates of the program.
2. Cities of over 1,000,000 people shall be allocated $5,000,000 for a program to train entrepreneurial candidates.
a. $1,000,000 for the operation of the program
b. $4,000,000 for 400 $10,000 grants to successful graduates of the program.
3. The New York State Education Department is to set guidelines for the program. Programs shall be administered by individual cities.
4. The New York State Education Department guidelines for the program shall require minimum grades and attending for successful graduation. Each participant, as part of the program, shall submit a gradable busi- ness plan for use of the grant money.
5. Program must include at least 20% participants who qualify as MWBEs under NYS law.
6. Program must include at least 10% participants who are veterans of the U.S. military.
Existing law
Such program does not exist under current law.
Justification
According the Bureau of Labor Statistics, since the last recession, from mid-2009 to 2011, small firms accounted for 67 percent of the net new jobs. As New York State continues to recover from the "Great Recession," job growth has not been as strong as in past recessions. Given the fact that this economic downturn was the worst financial crisis in seven decades, it is understandable that the recovery has taken longer than normal.
As a way to stimulate start-up businesses and job creation, the NYS Entrepreneurial Training Act of 2016 will help train potential entrepre- neurs. Instead of just handing money over to potential entrepreneurs, NYS Entrepreneurial Training Act of 2014 will train them how to start and manage a business. Training potential entrepreneurs will make their start-up businesses more like to succeed. As the new businesses begin to grow, they will hire new employees and increase tax revenues to the state.
Legislative history
02/04/15 REFERRED TO EDUCATION 01/06/16 REFERRED TO EDUCATION 01/15/16 AMEND (T) AND RECOMMIT TO EDUCATION 01/15/16 PRINT NUMBER 3258A
Fiscal implications
The initial cost to the state will be approximately $5.5 million. Over time, the state will receive additional taxes, including sales and employments taxes, that is undetermined at this time.
Local fiscal implications
None
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.