Bill Text: NY A10105 | 2017-2018 | General Assembly | Introduced

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Bill Title: Relates to the New York state business incubator and innovation hot spot support act.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2018-08-24 - signed chap.246 [A10105 Detail]

Download: New_York-2017-A10105-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          10105
                   IN ASSEMBLY
                                     March 15, 2018
                                       ___________
        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 urban development corporation act, in relation to
          the New York state business incubator and innovation hot spot  support
          act
          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  urban  development
     3  corporation  act,  as  added by section 1 of part C of chapter 59 of the
     4  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 urban development
    16  corporation act, as added by section 1 of part C of chapter  59  of  the
    17  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.
                                                                   LBD14327-01-8
        A. 10105                            2
     1    §  3. Subdivision 6 of section 16-v of section 1 of chapter 174 of the
     2  laws of 1968, constituting the urban  development  corporation  act,  as
     3  added  by  section  1  of  part  C of chapter 59 of the laws of 2013, is
     4  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 urban  development  corporation  act,  as
    19  added  by  section  1  of  part  C of chapter 59 of the laws of 2013, is
    20  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 the New York state innovation hot spot if the incubator has
    31  entered into a memorandum 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.