Senate Bill S962

2023-2024 Legislative Session

Relates to the establishment of a state university-based center for employee ownership; repealer

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S962 (ACTIVE) - Details

See Assembly Version of this Bill:
A1920
Current Committee:
Assembly Economic Development
Law Section:
Economic Development Law
Laws Affected:
Rpld & add §104-a, Ec Dev L; amd §§1836-a, 1836-b, 1836-c, 1836-d & 1836-e, Pub Auth L; amd §612, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: S5685
2019-2020: S2184, A7731
2021-2022: S3313, A6125

2023-S962 (ACTIVE) - Summary

Relates to the establishment of a state university-based center for employee ownership that provides education and outreach to business owners regarding employee ownership.

2023-S962 (ACTIVE) - Sponsor Memo

2023-S962 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    962
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 9, 2023
                                ___________
 
 Introduced  by  Sens.  BAILEY, ADDABBO, COMRIE, GOUNARDES, HOYLMAN, MAY,
   PARKER, PERSAUD, RAMOS, SANDERS -- 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, the public authorities law
   and the tax law, in relation to the establishment of a state universi-
   ty-based   center  for  employee  ownership;  and  to  repeal  certain
   provisions of the economic development law relating thereto
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 104-a of the economic development law is REPEALED
 and a new section 104-a is added to read as follows:
   § 104-A. ESTABLISHMENT OF A STATE UNIVERSITY-BASED CENTER FOR EMPLOYEE
 OWNERSHIP. WITH RESPECT TO  EMPLOYEE  OWNERSHIP,  THE  DEPARTMENT  SHALL
 ESTABLISH  A  STATE  UNIVERSITY-BASED CENTER FOR EMPLOYEE OWNERSHIP "THE
 CENTER".
   1. THE CENTER SHALL:
   (A) PROVIDE EDUCATION AND OUTREACH TO INFORM BUSINESS OWNERS ABOUT THE
 BENEFITS OF EMPLOYEE OWNERSHIP SUCCESSIONS;
   (B)  ORGANIZE  WORKSHOPS  AND  CONFERENCES   ON   EMPLOYEE   OWNERSHIP
 SUCCESSIONS;
   (C)  PREPARE  AND  DISTRIBUTE  MATERIALS CONCERNING EMPLOYEE OWNERSHIP
 SUCCESSIONS;
   (D) PROVIDE INITIAL CONSULTATION  TO  BUSINESS  OWNERS  EXPLORING  THE
 POSSIBILITY OF TRANSFERRING FULL OR PARTIAL OWNERSHIP TO EMPLOYEES;
   (E)  PROVIDE  A  REFERRAL  SERVICE TO HELP BUSINESS OWNERS FIND LEGAL,
 FINANCIAL, AND TECHNICAL ADVICE IN CONNECTION  WITH  EMPLOYEE  OWNERSHIP
 SUCCESSIONS;
   (F)  PARTNER  WITH  KEY  ORGANIZATIONS, SUCH AS PROFESSIONAL AND TRADE
 ASSOCIATIONS,  FINANCIAL  INSTITUTIONS,  UNIONS,  ECONOMIC   DEVELOPMENT

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01164-01-3
 S. 962                              2
              

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