Bill Text: NY A04821 | 2011-2012 | General Assembly | Introduced

New York Assembly Bill 4821 (Prior Session Legislation)

Introduced

Bill Title: Directs the department of economic development to establish a consortium to operate a database on the emerging domestic marketplace.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2012-09-04 - enacting clause stricken [A04821 Detail]

Download: New_York-2011-A04821-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4821
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 8, 2011
                                      ___________
       Introduced  by  M.  of  A.  P. RIVERA  --  read once and referred to the
         Committee on Economic Development
       AN ACT to amend the economic development law, in relation  to  directing
         the  department  of  economic development to establish a consortium to
         operate an internet database on the emerging domestic marketplace
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Section 100 of the economic development law is amended by
    2  adding a new subdivision 40-b to read as follows:
    3    40-B. TO DEVELOP AND ESTABLISH A  CONSORTIUM  OF  PUBLIC  AND  PRIVATE
    4  ENTITIES  FOR  THE  PURPOSE  OF  CREATING,  OPERATING  AND MAINTAINING A
    5  NON-PROPRIETARY INTERNET WEBSITE DATABASE WHICH DESCRIBES  THE  EMERGING
    6  DOMESTIC  MARKETPLACE.  SUCH DATABASE SHALL PROVIDE AND EXPAND FINANCIAL
    7  AND NON-FINANCIAL ANALYSIS OF  THE  MARKETPLACE.  THE  CONSORTIUM  SHALL
    8  ESTABLISH  GUIDELINES AND PROCEDURES TO ENSURE THE ACCURACY OF THE DATA-
    9  BASE, ESTABLISH STANDARD DEFINITIONS AND TERMS,  AND  ESTABLISH  FORMATS
   10  FOR  THE  SUBMISSION  OF  DATA. IN ADDITION, THE CONSORTIUM SHALL ENSURE
   11  THAT THE APPROPRIATE PRIVACY AND CONFIDENTIALITY PRACTICES ARE  ENFORCED
   12  AND  COMPLIED  WITH AT ALL TIMES.  FOR THE PURPOSES OF THIS SUBDIVISION,
   13  "EMERGING DOMESTIC MARKET" MEANS PEOPLE, PLACES OR BUSINESS  ENTERPRISES
   14  WITH GROWTH POTENTIAL THAT ENCOUNTER CAPITAL CONSTRAINTS DUE TO SYSTEMIC
   15  UNDERVALUATION   RESULTING  FROM  IMPERFECT  MARKET  INFORMATION.  THESE
   16  MARKETS INCLUDE ETHNIC- AND WOMEN-OWNED FIRMS, URBAN AND RURAL  COMMUNI-
   17  TIES, COMPANIES THAT SERVE LOW-TO-MODERATE-INCOME POPULATIONS, AND OTHER
   18  SMALL- AND MEDIUM-SIZED BUSINESSES.
   19    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01107-01-1