Bill Text: NY A02431 | 2023-2024 | General Assembly | Introduced

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Bill Title: Creates the NYS entrepreneurial training act to provide grants to eligible applicants to support and train entrepreneurial candidates.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to economic development [A02431 Detail]

Download: New_York-2023-A02431-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2431

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    January 26, 2023
                                       ___________

        Introduced  by M. of A. DILAN -- read once and referred to the Committee
          on Economic Development

        AN ACT to amend the New York state urban development corporation act, in
          relation to creating the "NYS entrepreneurial training act"

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section 1. This act shall be known and may be cited as the "NYS entre-
     2  preneurial training act".
     3    §  2.  Section  1 of chapter 174 of the laws of 1968, constituting the
     4  New York state urban development corporation act, is amended  by  adding
     5  two new sections 16-hh and 16-ii to read as follows:
     6    §  16-hh.  Entrepreneurial  training grant program. 1. There is hereby
     7  established within the empire state development corporation an entrepre-
     8  neurial training grant program. The program shall be formulated by  such
     9  corporation  and  administered  by  individual  participating cities and
    10  towns.  The purpose of the program shall be to provide grants to  eligi-
    11  ble applicants to support and train entrepreneurial candidates.
    12    2. In order for an eligible applicant to receive an award of an annual
    13  grant an applicant shall submit with its application a gradable business
    14  plan for the use of the grant money.
    15    3.  A  minimum  of  twenty  percent of the participants of the program
    16  shall be New York state certified minority and women's  business  enter-
    17  prises  and  a  minimum  of  ten percent shall be veterans of the United
    18  States military.
    19    § 16-ii. Entrepreneurial training  grant  program  awards.  1.  Within
    20  amounts  appropriated therefor, the empire state development corporation
    21  shall be authorized to grant awards for the support of  approved  entre-
    22  preneurial training grant programs.
    23    2.  Grants  to  support  an  approved  entrepreneurial  training grant
    24  program shall be awarded on  a  competitive  basis  in  accordance  with
    25  criteria established by the empire state development corporation.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03233-01-3
        A. 2431                             2

     1    3. The empire state development corporation shall, from within amounts
     2  appropriated  to such corporation, undertake all activities necessary to
     3  plan for and preliminarily provide for the timely implementation of  the
     4  entrepreneurial  training grant program authorized by section sixteen-hh
     5  of  this act for the state fiscal year commencing one year following the
     6  effective date of this section.
     7    4. Participating cities having a population of  one  million  or  more
     8  shall  be  allocated  five million dollars. One million dollars shall be
     9  used for the operation of the program. Four  million  dollars  shall  be
    10  used  to  grant  four  hundred  ten thousand dollar grants to successful
    11  graduates of the program.
    12    5. Participating cities and towns having a population of between nine-
    13  ty thousand and less than one million shall be  allocated  five  hundred
    14  thousand  dollars.  One  hundred  thousand dollars shall be used for the
    15  operation of the program. Four hundred thousand dollars shall be used to
    16  grant forty ten thousand dollar grants to successful  graduates  of  the
    17  program.
    18    § 3. This act shall take effect immediately.