Bill Text: NY S07904 | 2023-2024 | General Assembly | Introduced

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Bill Title: Relates to expanding employee ownership assistance for transgender and non-binary individuals; expands such assistance beyond industrial and manufacturing plants and includes transgender and non-binary individuals.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS [S07904 Detail]

Download: New_York-2023-S07904-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7904

                    IN SENATE

                                     January 3, 2024
                                       ___________

        Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Commerce, Economic  Devel-
          opment and Small Business

        AN  ACT to amend the public authorities law and the economic development
          law, in relation to expanding employee ownership assistance for trans-
          gender 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  other  businesses,  and
     8  their  relocation  out  of  state, which results in the loss of jobs and
     9  increasing unemployment.
    10    It is the purpose of this subtitle to  encourage  [the]  employees  of
    11  plants  and other businesses that are about to be permanently closed, or
    12  relocated, to acquire such plants and  businesses  and  to  continue  to
    13  operate  them  as employee-owned enterprises, thereby retaining the jobs
    14  that would otherwise be lost, and strengthening  the  economic  base  of
    15  this state.
    16    §  2. Subdivisions 3, 4 and 8 of section 1836-b of the public authori-
    17  ties law, subdivisions 3 and 8 as added by chapter 788 of  the  laws  of
    18  1983,  and  subdivision 4 as amended by chapter 805 of the laws of 1985,
    19  are amended to read as follows:
    20    3. "Eligible project" means the acquisition or  rehabilitation  by  an
    21  employee  ownership association of an existing industrial or manufactur-
    22  ing plant or other business located in this state  for  the  purpose  of
    23  operating it as an employee-owned enterprise.
    24    4. "Employee ownership association" means a corporation or other asso-
    25  ciation  formed  by  or  on  behalf of the employees of an industrial or
    26  manufacturing plant or business located in this state for the purpose of

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07606-02-3
        S. 7904                             2

     1  assuming ownership or control of the plant or business and operating  it
     2  as an employee-owned enterprise or as a worker cooperative as defined in
     3  section eighty-one of the cooperative corporations law.
     4    8.  "Business"  includes  a sole proprietorship, partnership or corpo-
     5  ration operating in this state.
     6    9. "Project cost" includes all reasonable and necessary  costs  to  be
     7  incurred in the course of an eligible project, including any anticipated
     8  acquisition,  construction,  land  acquisition, improvements, equipment,
     9  pertinent rights and easements, and associated  technical,  engineering,
    10  legal and financial services.
    11    §  3.  Paragraph  (b) of subdivision 1 of section 1836-c of the public
    12  authorities law, as added by chapter 788 of the laws of 1983, is amended
    13  to read as follows:
    14    (b) the history and circumstances of  the  plant  or  business  to  be
    15  acquired;
    16    § 4. Section 1836-d of the public authorities law, as added by chapter
    17  788 of the laws of 1983, is amended to read as follows:
    18    §  1836-d. Loan preferences. In approving applications for loans under
    19  this subtitle, the authority shall give preference to projects which:
    20    1. have a membership consisting of a majority of  minority,  transgen-
    21  der, or non-binary members;
    22    2. have a higher level of funding from the funding partners;
    23    [2.]  3. have the most direct impact on local economic development and
    24  the creation or retention of employment opportunities;
    25    [3.] 4. are most likely to stimulate other private sector investments;
    26  and
    27    [4.] 5. are least  speculative,  and  provide  greatest  assurance  of
    28  repayment of the loan.
    29    §  5.  Subdivision 7 of section 104-a of the economic development law,
    30  as added by chapter 788 of the laws of  1983,  is  amended  to  read  as
    31  follows:
    32    7.  Identify  [industrial  and  manufacturing]  businesses that are in
    33  danger of being permanently closed or  relocated  out  of  state,  which
    34  results  in the loss of jobs and increasing unemployment, and assist the
    35  businesses and employees of such businesses by distributing  information
    36  about the provisions of this section.
    37    §  6.  Subdivisions 3 and 4 of section 210 of the economic development
    38  law, as amended by chapter 669 of the laws of 2022, are amended to  read
    39  as follows:
    40    3.  "Minority  business enterprise" shall mean any business enterprise
    41  which is at least fifty-one per centum owned by, or in  the  case  of  a
    42  publicly  owned  business  at least fifty-one per centum of the stock of
    43  which is owned by, citizens or permanent resident  noncitizens  who  are
    44  transgender  or  non-binary,  Black, Hispanic, Asian or American Indian,
    45  Pacific Islander or Alaskan Native  where  such  ownership  interest  is
    46  real, substantial and continuing and where such persons have the author-
    47  ity  to  independently  control the day-to-day business decisions of the
    48  entity.
    49    4. "Minority group member" shall  mean  a  United  States  citizen  or
    50  permanent  resident  noncitizen who is and can demonstrate membership in
    51  one of the following groups:
    52    (a) Black persons having origins in any of the  Black  African  racial
    53  groups not of Hispanic origin;
    54    (b)  Hispanic  persons  of  Mexican,  Puerto  Rican, Dominican, Cuban,
    55  Central or South American descent of either Indian or  Hispanic  origin,
    56  regardless of race;
        S. 7904                             3

     1    (c) Asian and Pacific Islander persons having origins in the Far East,
     2  Southeast Asia, the Indian sub-continent or the Pacific Islands; or
     3    (d) American Indian or Alaskan Native persons having origins in any of
     4  the original peoples of North America; or
     5    (e) Transgender or non-binary.
     6    § 7. This act shall take effect immediately.