What's happening
This bill extends the reporting deadline and expiration date for the advisory panel on employee-owned enterprises to 2020.
Why it matters
Gives the advisory panel more time to thoroughly study and recommend policies on employee-owned businesses. , which could influence how New York supports or expands this business model in the future.
Keeps the issue of employee ownership on the legislative and policy agenda for another year. , increasing the chance that lawmakers and agencies will take action or allocate resources based on the panel’s findings.
Allows for additional data collection and stakeholder input. , possibly leading to more comprehensive or effective recommendations that could benefit workers, small businesses, and local economies if implemented.
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Who cares
Headline styles
Extend Employee Ownership Panel
Plain English, a few words. Used as the page title.
Sponsors
Senator · Senate District 7
No co-sponsors yet.
History
- Signed chap.372
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.226
- Substituted for A8089
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 61–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.959
Show 1 earlier action
- Referred to commerce, economic development and small business
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.
Extend Employee Ownership Panel
Assembly Floor Calendar · Sponsor Sean Ryan
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
6198
2019-2020 Regular Sessions
IN SENATE
May 22, 2019
Introduced by Sen. KAPLAN -- read twice and ordered printed, and when printed to be committed to the Committee on Commerce, Economic Development and Small Business
AN ACT to amend the economic development law, in relation to an advisory panel on employee-owned enterprises within the division of small business services; and to amend chapter 435 of the laws of 2017 amending the economic development law, relating to establishing an advisory panel on employee-owned enterprises within the division of small business services, in relation to the effectiveness thereof
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 5 of section 139 of the economic development law, as amended by chapter 30 of the laws of 2018, is amended to read as follows:
5. Reporting. The advisory panel shall issue a report no later than June thirtieth, two thousand [nineteen] twenty outlining the findings and recommendations of the panel. The report shall be delivered to the governor, the speaker of the assembly, the temporary president of the senate, the minority leader of the assembly, the minority leader of the senate, the chair of the assembly committee on ways and means, the chair of the senate committee on finance, the chair of the assembly committee on economic development, the chair of the assembly committee on small business, the chair of the senate committee on commerce, economic development, and small business, the chair of the assembly committee on labor, and the chair of the senate committee on labor.
§ 2. Section 2 of chapter 435 of the laws of 2017 amending the economic development law, relating to establishing an advisory panel on employee-owned enterprises within the division of small business services, as amended by chapter 30 of the laws of 2018, is amended to read as follows:
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11943-01-9
S. 6198 2
§ 2. This act shall take effect immediately and shall expire October 1, [2019] 2020 when upon such date the provisions of this act shall be deemed repealed.
§ 3. This act shall take effect immediately; provided that the amendments to subdivision 5 of section 139 of the economic development law made by section one of this act shall not affect the repeal of such section and shall be deemed repealed therewith.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the economic development law, in relation to an advisory panel on employee-owned enterprises within the division of small business services; and to amend chapter 435 of the laws of 2017 amending the economic development law, relating to estab- lishing an advisory panel on employee-owned enterprises within the divi- sion of small business services, in relation to the effectiveness there- of
Purpose of the bill
This bill would extend for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York State.
Summary of specific provisions
This bill would extend for one year the advisory panel within the Department of Economic Development for the purpose of reviewing state laws and programs in order to report and make recommendations on how to support and promote employee-owned enterprises in New York State. The panel consists of twelve members with expertise related to employee- owned enterprises, including the Commissioners of Economic Development, Labor, and Tax and Finance.
The panel is responsible for identifying and recommending strategies to promote the creation and development of new employee-owned enterprises, evaluating state and local programs intended to support such businesses, and recommending new or underutilized methods of supporting such busi- nesses, among other things.
The panel would also be required to issue a report no later than June 13th 2020 with its findings.
Justification
Employee-owned enterprises provide stability and staying power for local jobs. Employee-owned enterprises are far less likely to move out of state, or even out of the local region, because of the roots the employ- ees of these enterprises have in the areas they work and live. Studies have found that wages, sales, productivity, and retirement plans for employee-owned enterprises are higher than those of comparable, private- ly owned corporations. As an increasing number of small business owners reach retirement, many employees fear they may lose their job or have to relocate when a small business owner retires and sells their company.
Prior legislative history
New Bill.
Fiscal implications for state and local governments
None.
Effective date
Immediate.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.