Senate Majority Passes Legislation To Help Small Businesses
March 7, 2019
Albany, NY -- Senator David Carlucci and the Senate Democratic Majority today passed legislation to support New York State’s small business community. These bills include Senate Bill S.3163 that will allow small businesses to create a tax-deferred savings account for specific business needs, Senate Bill S.1087, to establish the Small Business Crime Prevention Services Program, and Senate Bill S.1265 to create a pilot project to improve business and public participation in the rule-making process by permitting agencies to use innovative techniques in organizing public hearings on proposed rules.
“Small businesses are crucial to the success of New York’s economy,” said Senator David Carlucci. “We must continue to pass legislation that drives our local economies forward. I am proud to stand with my Senate Democratic Majority colleagues as we empower small business to grow and create more jobs in New York.”
The legislation advanced by the Senate Majority includes:
Senate Bill S.3163, introduced by Senator Kaplan, will allow small businesses to contribute into a small business tax-deferred savings that can be withdrawn during times of specified economic hardship, for the purpose of job retention or creation, or times where the Governor deems it a natural disaster to warrant assistance from the federal government.
Senate Bill S.1087, introduced by Senator Persaud, will provide the organizational and financial resources needed to deliver cost-effective crime prevention programs to New York's small businesses, to the benefit of the wider community.
Senate Bill S.1265, introduced by Senator Gianaris, will enhance the ability of businesses and the public to participate more meaningfully in the rule-making process by permitting agencies to use innovative techniques in organizing public hearings on proposed rules.
It also establishes a 3-year pilot project for seven major regulatory agencies to hold public hearings upon petition of 125 or more New York residents.
Senator Carlucci concluded, “The Senate Democratic Majority understands the vital role small businesses play in New York and that steps must be taken to help them succeed. I applaud Senator Gianaris, Senator Kaplan and Senator Persaud for their commitment to small businesses and entrepreneurs in New York and for sponsoring these bills.”
