BILL NUMBER:  S5950

 TITLE OF BILL :  An act to amend chapter 413 of the laws of 2003
amending the labor law relating to the self-employment assistance
program and other matters, in relation to extending the effectiveness
thereof

 PURPOSE OF THE BILL :

This bill would extend to December 7, 2019 certain provisions relating
to the establishment and operation of the state's Self-Employment
Assistance Program (SEAP).

 SUMMARY OF SPECIFIC PROVISIONS :

Section 1 Amends § 10 of Chapter 413 of the Laws of 2003 amending the
Labor Law relating to the establishment and operation of the
Self-Employment Assistance Program (SEAP) to extend the provision
until December 7, 2019.

Section 2 of this bill provides that this act shall take effect
immediately.

 JUSTIFICATION :

The Self-Employment Assistance Program has been extremely successful
              

in helping individuals who are likely to exhaust their regular
unemployment insurance benefits to develop and establish small
businesses in New York. Qualified individuals participate in a
rigorous program that consists of specific benchmarks they must comply
with in order to stay in the program. A participant must complete a
minimum of twenty hours of entrepreneurial training, meet a minimum of
two times with a certified business counselor, create a business plan
and send periodic reports to their Department of Labor coordinator.
The success of this program is evident. Over 4,000 jobs have been
created and $16 million in state tax revenue has been generated at no
cost to the state. In an ongoing effort to create and nourish job
growth throughout the state, it is critical; that the Self-Employment
Assistance Program be extended to afford certain individuals,
collecting unemployment insurance benefits the opportunity to take
advantage of this program.

 LEGISLATIVE HISTORY :

2015-2016: S5860 - Signed by Governor.

 FISCAL IMPLICATIONS :

None.

 EFFECTIVE DATE :
This act shall take effect immediately.