Authorizes the urban development corporation to contract for the establishment of an African-American and African-Caribbean business development center for the purpose of rendering technical assistance and market information to not-for profit service providers and private businesses servicing the African-American and African-Caribbean communities.
TITLE OF BILL: An act to amend the New York state urban development corporation act, in relation to the establishment of an African-American and African-Caribbean business development center
PURPOSE OR GENERAL IDEA OF BILL: This bill would provide permanent funds to create an African-American and African-Caribbean Business Development center within the New York State Urban Development Corporation to provide technical assistance and any such other information as deemed necessary to the African-American and African-Caribbean business community where it may begin to successfully participate in the programs established under the Omnibus Economic Development Act of 1987.
SUMMARY OF SPECIFIC PROVISIONS: This bill would amend chapter 174 of the laws of 1968, constituting the New York State Urban Development Corporation, and adds a new section 9-g creating an entity that will be known as "The African-American and African-Caribbean Business Development Center".
JUSTIFICATION: One of the most significant obstacles to the successful development of the African-American and African-Caribbean business community in New York State has been proving difficulty in accessing information on state economic development programs, as well as a pronounced difficulty in obtaining working capital and project specific financing in order to aggressively compete for available state and local contracts.
The establishment of the African-American and African-Caribbean Business Development Center would bridge the gap in informational, legal, financial and technical assistance services available to the African-American and African-Caribbean Business Community. Centrally located to be easily accessible to African-American and African-Caribbean Business Community. Centrally located to be easily accessible to African-American and African-Caribbean firms seeking assistance, it would create a setting where alternate forms of business organization can be explored while serving a valuable role to develop viable firms who are not currently organized in a corporate form but otherwise represent sound, practical candidates for economic assistance.
PRIOR LEGISLATIVE HISTORY: 2010: A.6852/S.3556 - Held in Finance 1991-92, A.12292; 3rd Reading Rules Cal. 1417 1993-94, A.5894; Passed Assembly 1995-96, A.3169; Referred to Economic Development 1999-00, A.1424; Referred to Economic Development
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENT:
EFFECTIVE DATE: Immediately.
STATE OF NEW YORK ________________________________________________________________________ 3612 2011-2012 Regular Sessions IN SENATE February 28, 2011 ___________Introduced by Sen. ADAMS -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the New York state urban development corporation act, in relation to the establishment of an African-American and African-Car- ibbean business development center THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1 of chapter 174 of the laws of 1968, constituting the New York state urban development corporation act, is amended by adding a new section 9-g to read as follows: S 9-G. CREATING AN AFRICAN-AMERICAN AND AFRICAN-CARIBBEAN BUSINESS DEVELOPMENT CENTER. THE CORPORATION SHALL PROVIDE, WITH THE ASSISTANCE OF THE COMMISSIONER OF ECONOMIC DEVELOPMENT AND IN CONSULTATION WITH SUCH COMMISSIONER, AN AFRICAN-AMERICAN AND AFRICAN-CARIBBEAN BUSINESS DEVELOPMENT CENTER FOR THE PURPOSES OF RENDERING TECHNICAL ASSISTANCE AND MARKET INFORMATION TO NOT-FOR-PROFIT SERVICE PROVIDERS AND THE PRIVATE BUSINESSES SERVICING AFRICAN-AMERICAN AND AFRICAN-CARIBBEAN COMMUNITIES. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04066-01-1