Bill Text: NY A08119 | 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 (Democrat 3-0)

Status: (Introduced - Dead) 2018-01-03 - referred to ways and means [A08119 Detail]

Download: New_York-2017-A08119-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          8119
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                      May 30, 2017
                                       ___________
        Introduced  by  M.  of A. SCHIMMINGER -- (at request of the Empire State
          Development) -- 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 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.
    23    § 3. Subdivision 6 of section 16-v of section 1 of chapter 174 of  the
    24  laws  of  1968, constituting the New York State urban development corpo-
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09983-01-7
        A. 8119                             2
     1  ration act, as added by section 1 of part C of chapter 59 of the laws of
     2  2013, is amended to read as follows:
     3    6.  Other assistance. The corporation [shall] may make such other aid,
     4  assistance, and resources available to New  York  state  innovation  hot
     5  spots  and  New York state incubators and their clients as it shall deem
     6  useful and appropriate for the furtherance of the purposes of this  act,
     7  including without limitation technical assistance, aid in marketing, aid
     8  in  reaching  and  providing  entrepreneurship training opportunities to
     9  such marginalized groups as those composed of individuals who are minor-
    10  ity, female, disabled, or poor, and others, curriculum development,  and
    11  other services and resources. The corporation shall also seek assistance
    12  from  other state agencies in the development of procurement and market-
    13  ing resources and training opportunities for New York  state  innovation
    14  hot spots and New York state incubators and their clients.
    15    §  4. Subdivision 8 of section 16-v of section 1 of chapter 174 of the
    16  laws of 1968, constituting the New York state urban  development  corpo-
    17  ration act, as added by section 1 of part C of chapter 59 of the laws of
    18  2013, is amended to read as follows:
    19    8.  New York state innovation hot spots may certify clients which meet
    20  the requirements of subdivision nine of this section as qualified  enti-
    21  ties  eligible  for New York state innovation hot spot program tax bene-
    22  fits pursuant to section thirty-eight of the tax law. [Under no  circum-
    23  stance  may  business  enterprises  of incubators designated as New York
    24  state incubators under paragraph (b) of subdivision one of this  section
    25  be  eligible for tax benefits under section thirty-eight of the tax law]
    26  Business enterprises of incubators designed as New York state incubators
    27  under paragraph (a) of subdivision one of this section may be  certified
    28  by  the  New York state innovation hot spot if the incubator has entered
    29  into a memoranda of understanding with a hot spot establishing a process
    30  and threshold or the hot spot is providing services or assistance to the
    31  business enterprise in addition to those provided by the incubator.
    32    § 5. This act shall take effect immediately.