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A09969 Summary:

BILL NOA09969
 
SAME ASSAME AS S09777
 
SPONSORStirpe
 
COSPNSR
 
MLTSPNSR
 
Amd §139, Ec Dev L; amd §2, Chap 435 of 2017
 
Extends the reporting deadline of the advisory panel on employee-owned enterprises from June 30, 2024 to June 30, 2025; extends for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York state.
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A09969 Actions:

BILL NOA09969
 
04/30/2024referred to economic development
05/21/2024reported referred to rules
06/03/2024reported
06/03/2024rules report cal.358
06/03/2024ordered to third reading rules cal.358
06/04/2024substituted by s9777
 S09777 AMEND= GOUNARDES
 05/30/2024REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
 06/03/2024COMMITTEE DISCHARGED AND COMMITTED TO RULES
 06/03/2024ORDERED TO THIRD READING CAL.1680
 06/03/2024PASSED SENATE
 06/03/2024DELIVERED TO ASSEMBLY
 06/03/2024referred to economic development
 06/04/2024substituted for a9969
 06/04/2024ordered to third reading rules cal.358
 06/06/2024passed assembly
 06/06/2024returned to senate
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A09969 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A9969
 
SPONSOR: Stirpe
  TITLE OF BILL: An act to amend the economic development law, in relation to extending the reporting deadline of the advisory panel on employee-owned enter- prises; and to amend chapter 435 of the laws of 2017 amending the economic development law relating to establishing an advisory panel on employee-owned enterprises within the division of small business services, in relation to the effectiveness thereof   PURPOSE: This bill would extend for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York State.   SUMMARY OF PROVISIONS:• This bill would extend for one year the advisory panel within the Department of Economic Development for the purpose of reviewing state taws and programs in order to report and make recommendations on how to support and promote employee-owned enterprises in New York State. The panel would also be required to issue a report no later than June 30, 2025, with its findings.   JUSTIFICATION: Employee-owned enterprises provide stability and staying power for local jobs. Employee-owned enterprises are far less likely to move out of state, or even out of the local region, because of the roots the employ- ees of these enterprises have in the areas they work and live. Studies have found that wages, sales, productivity, and retirement plans for employee-owned enterprises are higher than those of comparable, private- ly owned corporations. As an increasing number of small business owners reach retirement, many employees fear they may lose their job or have to relocate when a small business owner retires and sells their company.   PRIOR LEGISLATIVE HISTORY: New Bill.   FISCAL IMPLICATIONS: None.
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A09969 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9969
 
                   IN ASSEMBLY
 
                                     April 30, 2024
                                       ___________
 
        Introduced by M. of A. STIRPE -- read once and referred to the Committee
          on Economic Development
 
        AN  ACT  to amend the economic development law, in relation to extending
          the reporting deadline of the advisory panel on employee-owned  enter-
          prises;  and  to  amend  chapter  435 of the laws of 2017 amending the
          economic development law relating to establishing an advisory panel on
          employee-owned enterprises  within  the  division  of  small  business
          services, in relation to the effectiveness thereof
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision 5 of section 139 of  the  economic  development
     2  law,  as  amended by chapter 159 of the laws of 2023, is amended to read
     3  as follows:
     4    5. Reporting. The advisory panel shall issue a report  no  later  than
     5  June  thirtieth,  two  thousand  [twenty-four] twenty-five outlining the
     6  findings and recommendations of the panel. The report shall be delivered
     7  to the governor, the speaker of the assembly, the temporary president of
     8  the senate, the minority leader of the assembly, the minority leader  of
     9  the  senate,  the chair of the assembly committee on ways and means, the
    10  chair of the senate committee on finance,  the  chair  of  the  assembly
    11  committee  on  economic development, the chair of the assembly committee
    12  on small business, the  chair  of  the  senate  committee  on  commerce,
    13  economic  development,  and  small  business,  the chair of the assembly
    14  committee on labor, and the chair of the senate committee on labor.
    15    § 2. Section 2 of chapter 435 of the laws of 2017 amending the econom-
    16  ic development law relating to establishing an advisory panel on employ-
    17  ee-owned enterprises within the division of small business services,  as
    18  amended  by  chapter  159  of  the  laws  of 2023, is amended to read as
    19  follows:
    20    § 2. This act shall take effect immediately and shall  expire  October
    21  1,  [2024]  2025 when upon such date the provisions of this act shall be
    22  deemed repealed.
    23    § 3. This act shall take effect immediately; provided that the  amend-
    24  ments  to  subdivision  5 of section 139 of the economic development law
    25  made by section one of this act shall not  affect  the  repeal  of  such
    26  section and shall be deemed repealed therewith.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15112-02-4
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