Bill Text: NY A04083 | 2023-2024 | General Assembly | Amended

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Bill Title: Relates to expanding employee ownership assistance for lesbian, gay, bisexual, transgender and non-binary individuals.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to economic development [A04083 Detail]

Download: New_York-2023-A04083-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         4083--A

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    February 9, 2023
                                       ___________

        Introduced  by  M.  of  A.  CUNNINGHAM  -- read once and referred to the
          Committee  on  Economic  Development  --  committee  discharged,  bill
          amended,  ordered reprinted as amended and recommitted to said commit-
          tee

        AN ACT to amend the public authorities law and the economic  development
          law, in relation to expanding employee ownership assistance for lesbi-
          an, gay, bisexual, transgender and non-binary individuals

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

     1    Section 1. Section 1836-a of the public authorities law, as  added  by
     2  chapter 788 of the laws of 1983, is amended to read as follows:
     3    §  1836-a.  Legislative  findings.  The  legislature  hereby finds and
     4  declares that the health, safety and general welfare of  the  people  of
     5  this  state  are directly dependent upon the state economy, and that one
     6  of the principal problems of our present economy is the permanent  clos-
     7  ing  of industrial and manufacturing plants, and their relocation out of
     8  state, which results in the loss of jobs and increasing unemployment.
     9    It is the purpose of this subtitle to  encourage  [the]  employees  of
    10  plants that are about to be permanently closed, or relocated, to acquire
    11  such  plants and businesses and to continue to operate them as employee-
    12  owned enterprises, thereby retaining the jobs that  would  otherwise  be
    13  lost, and strengthening the economic base of this state.
    14    §  2.   Paragraph (b) of subdivision 1 of section 1836-c of the public
    15  authorities law, as added by chapter 788 of the laws of 1983, is amended
    16  to read as follows:
    17    (b) the history and circumstances of  the  plant  or  business  to  be
    18  acquired;
    19    § 3. Section 1836-d of the public authorities law, as added by chapter
    20  788 of the laws of 1983, is amended to read as follows:
    21    §  1836-d. Loan preferences. In approving applications for loans under
    22  this subtitle, the authority shall give preference to projects which:

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07606-03-3
        A. 4083--A                          2

     1    1. have a membership consisting of a majority  of  minority,  lesbian,
     2  gay, bisexual, transgender, or non-binary members;
     3    2. have a higher level of funding from the funding partners;
     4    [2.]  3. have the most direct impact on local economic development and
     5  the creation or retention of employment opportunities;
     6    [3.] 4. are most likely to stimulate other private sector investments;
     7  and
     8    [4.] 5. are least  speculative,  and  provide  greatest  assurance  of
     9  repayment of the loan.
    10    §  4.  Subdivision 7 of section 104-a of the economic development law,
    11  as added by chapter 788 of the laws of  1983,  is  amended  to  read  as
    12  follows:
    13    7.  Identify  [industrial  and  manufacturing]  businesses that are in
    14  danger of being permanently closed or  relocated  out  of  state,  which
    15  results  in the loss of jobs and increasing unemployment, and assist the
    16  businesses and employees of such businesses by distributing  information
    17  about the provisions of this section.
    18    §  5.  Subdivisions 3 and 4 of section 210 of the economic development
    19  law, as amended by chapter 669 of the laws of 2022, are amended to  read
    20  as follows:
    21    3.  "Minority  business enterprise" shall mean any business enterprise
    22  which is at least fifty-one per centum owned by, or in  the  case  of  a
    23  publicly  owned  business  at least fifty-one per centum of the stock of
    24  which is owned by, citizens or permanent resident  noncitizens  who  are
    25  lesbian,  gay,  bisexual,  transgender  or  non-binary, Black, Hispanic,
    26  Asian or American Indian, Pacific Islander or Alaskan Native where  such
    27  ownership  interest  is  real, substantial and continuing and where such
    28  persons have the authority to independently control the day-to-day busi-
    29  ness decisions of the entity.
    30    4. "Minority group member" shall  mean  a  United  States  citizen  or
    31  permanent  resident  noncitizen who is and can demonstrate membership in
    32  one of the following groups:
    33    (a) Black persons having origins in any of the  Black  African  racial
    34  groups not of Hispanic origin;
    35    (b)  Hispanic  persons  of  Mexican,  Puerto  Rican, Dominican, Cuban,
    36  Central or South American descent of either Indian or  Hispanic  origin,
    37  regardless of race;
    38    (c) Asian and Pacific Islander persons having origins in the Far East,
    39  Southeast Asia, the Indian sub-continent or the Pacific Islands; or
    40    (d) American Indian or Alaskan Native persons having origins in any of
    41  the original peoples of North America; or
    42    (e) Lesbian, gay, bisexual, transgender or non-binary.
    43    § 6. This act shall take effect immediately.