Senate Bill S4942

2023-2024 Legislative Session

Provides small businesses with grants to commercialize energy and environmental technology innovations in-state

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Sponsored By

Current Bill Status - In Senate Committee Corporations, Authorities And Commissions 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-S4942 (ACTIVE) - Details

See Assembly Version of this Bill:
A7307
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §16-bb, UDC Act
Versions Introduced in Other Legislative Sessions:
2009-2010: S1636
2011-2012: S5550
2013-2014: S1120, A8900
2015-2016: S3032, A5932
2017-2018: S1120, S7527, A6110, A9872
2019-2020: S1909, A2310
2021-2022: S4096, A4874, A9309

2023-S4942 (ACTIVE) - Summary

Provides small businesses with grants of up to $100,000 to commercialize energy and environmental technology innovations and ideas in-state to stimulate economic development.

2023-S4942 (ACTIVE) - Sponsor Memo

2023-S4942 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4942
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 17, 2023
                                ___________
 
 Introduced  by Sens. PARKER, ORTT -- read twice and ordered printed, and
   when printed to be committed to the Committee on Corporations, Author-
   ities and Commissions
 
 AN ACT to amend the New York state urban development corporation act, in
   relation to creating the New York state innovative energy and environ-
   mental technology program

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Legislative  intent.  The  legislature  hereby  finds and
 declares that the success of innovative energy and  environmental  tech-
 nology-oriented  businesses  with  growth  potential is essential to the
 continued economic health and security of New York state. It is  further
 found  that  the development of new products to assist mature industries
 undergoing dramatic changes or facing increasing international  competi-
 tion  with  reducing energy costs and complying with environmental regu-
 lations, can serve to retain, and even increase, employment.    However,
 commercialization  of  these  products  is  restrained as numerous small
 businesses are limited by lack of early stage financing.
   Therefore, the legislature seeks to provide early stage funds,  via  a
 grants program, to stimulate the creation of a substantial number of new
 businesses  and  jobs  in  the  energy  and environmental sectors of New
 York's economy.
   § 2. 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 16-bb to read as follows:
   § 16-BB. NEW YORK STATE INNOVATIVE ENERGY AND ENVIRONMENTAL TECHNOLOGY
 PROGRAM.  1.  DEFINITIONS.  AS USED IN THIS SECTION, THE FOLLOWING WORDS
 AND TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "INNOVATIVE ENERGY TECHNOLOGIES" SHALL MEAN ALL  METHODS  USED  TO
 PRODUCE,  DISTRIBUTE,  CONSERVE  AND  STORE ENERGY BY METHODS WHICH HAVE
 SIGNIFICANT POTENTIAL FOR COMMERCIALIZATION, WITH EMPHASIS ON  RENEWABLE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06481-01-3
              

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