Bill Text: NY S06809 | 2017-2018 | General Assembly | Introduced

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Bill Title: Increases the number of New York state incubator hot spots from five to ten; makes related provisions.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2018-01-03 - REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS [S06809 Detail]

Download: New_York-2017-S06809-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6809
                               2017-2018 Regular Sessions
                    IN SENATE
                                      June 19, 2017
                                       ___________
        Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules
        AN ACT to amend the New York State urban development corporation act, in
          relation to the incubator program
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph (c) of subdivision 2 of section 16-v of section 1
     2  of  chapter  174  of  the  laws of 1968, constituting the New York State
     3  urban development corporation act, as added by section 1 of  part  C  of
     4  chapter 59 of the laws of 2013, is amended to read as follows:
     5    (c)  The  corporation,  subject  to  appropriations  provided for this
     6  purpose, may approve and designate [five] ten New York  state  incubator
     7  hot  spots  [in  fiscal year two thousand thirteen-two thousand fourteen
     8  and five additional New York state innovation hot spots in  fiscal  year
     9  two  thousand  fourteen-two  thousand  fifteen].  Such designees will be
    10  required to demonstrate an affiliation with and the application  support
    11  of at least one college, university or independent research institution,
    12  and that its programs and purposes are consistent with regional economic
    13  development strategies.
    14    §  2.  Paragraph  (c) of subdivision 5 of section 16-v of section 1 of
    15  chapter 174 of the laws of 1968, constituting the New York  State  urban
    16  development  corporation act, as added by section 1 of part C of chapter
    17  59 of the laws of 2013, is amended to read as follows:
    18    (c) No deduction. In addition to the foregoing requirements, an  incu-
    19  bator  sponsor  shall  agree  to  dedicate  all funds from any grants or
    20  support received pursuant to this subdivision to the operations  of  the
    21  incubator without deductions for [overhead,] indirect costs[, or facili-
    22  ties  and  administration  charges] of such sponsor. In no case shall an
    23  incubator sponsor agree to provide less than eighty-five percent of  all
    24  funds  received  pursuant  to  this subdivision to the operations of the
    25  incubator without exception.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13282-01-7
        S. 6809                             2
     1    § 3. Subdivision 6 of section 16-v of section 1 of chapter 174 of  the
     2  laws  of  1968, constituting the New York State urban development corpo-
     3  ration act, as added by section 1 of part C of chapter 59 of the laws of
     4  2013, is amended to read as follows:
     5    6.  Other assistance. The corporation [shall] may make such other aid,
     6  assistance, and resources available to New  York  state  innovation  hot
     7  spots  and  New York state incubators and their clients as it shall deem
     8  useful and appropriate for the furtherance of the purposes of this  act,
     9  including without limitation technical assistance, aid in marketing, aid
    10  in  reaching  and  providing  entrepreneurship training opportunities to
    11  such marginalized groups as those composed of individuals who are minor-
    12  ity, female, disabled, or poor, and others, curriculum development,  and
    13  other services and resources. The corporation shall also seek assistance
    14  from  other state agencies in the development of procurement and market-
    15  ing resources and training opportunities for New York  state  innovation
    16  hot spots and New York state incubators and their clients.
    17    §  4. Subdivision 8 of section 16-v of section 1 of chapter 174 of the
    18  laws of 1968, constituting the New York State urban  development  corpo-
    19  ration act, as added by section 1 of part C of chapter 59 of the laws of
    20  2013, is amended to read as follows:
    21    8.  New York state innovation hot spots may certify clients which meet
    22  the requirements of subdivision nine of this section as qualified  enti-
    23  ties  eligible  for New York state innovation hot spot program tax bene-
    24  fits pursuant to section thirty-eight of the tax law. [Under no  circum-
    25  stance  may  business  enterprises  of incubators designated as New York
    26  state incubators under paragraph (b) of subdivision one of this  section
    27  be  eligible for tax benefits under section thirty-eight of the tax law]
    28  Business enterprises of incubators designated as New York state  incuba-
    29  tors  under  paragraph  (a)  of  subdivision  one of this section may be
    30  certified by a New York state innovation hot spot if the  incubator  has
    31  entered  into a memoranda of understanding with such hot spot establish-
    32  ing a process and threshold for the provision  of  innovation  hot  spot
    33  benefits  to  qualified  enterprises or the hot spot is providing demon-
    34  strable services or assistance to the business enterprise in addition to
    35  those provided by the incubator.
    36    § 5. This act shall take effect immediately.