NY State Senate Bill 2013-S7406

Archive: Last Bill Status - In Senate Committee Education Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
May 14, 2014	referred to education

2013-S7406 (ACTIVE) - Details

Current Committee:: Senate Education
Law Section:: Education Law
Laws Affected:: Add §§4608 & 4609, Ed L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S3258
2017-2018: S4682
2019-2020: S2479

2013-S7406 (ACTIVE) - Summary

Relates to creating the NYS entrepreneurial training act of 2014.

2013-S7406 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S7406

TITLE OF BILL:  An act to amend the education law, in relation to creat-
ing the "NYS entrepreneurial training act of 2014"

PURPOSE OR GENERAL IDEA OF BILL:

This bill would amend the education law to establish the NYS Entrepre-
neurial Training Act of 2014.

SUMMARY OF SPECIFIC PROVISIONS:

§ 1 of this bill titles this bill the NYS Entrepreneurial Training Act
of 2014.

Subsection 2 details the provisions of the act as follows.

1. Cities of over 100,000 people shall be allocated $500,000 for a
program to train entrepreneurial candidates.

a. $100,000 for the operation of the program

b. $400,000 for 40 $10,000 grants to successful graduates of the
program.

2. Cities of over 1,000,000 people shall be allocated $5,000,000 for a

program to train entrepreneurial candidates.

a. $1,000,000 for the operation of the program

b. $4,00,000 for 400 $10,000 grants to successful graduates of the
program.

3. The New York State Education Department is to set guidelines for the
program. Programs shall be administered by individual cities.

4. The New York State Education Department guidelines for the program
shall require minimum grades and attending for successful graduation.
Each participant, as part of the program, shall submit a gradable busi-
ness plan for use of the grant money.

5. Program must include at least 20% participants who qualify as MWBEs
under NYS law.

6. Program must include at least 10% participants who are veterans of
the U.S. military.

JUSTIFICATION:

According the Bureau of Labor Statistics, since the last recession, from
mid-2009 to 2011, small firms accounted for 67 percent of the net new
jobs. As New York State continues to recover from the "Great Recession,"

job growth has not been as strong as in past recessions. Given the fact
that this economic downturn was the worst financial crisis in seven
decades, it is understandable that the recovery has taken longer than
normal.

As a way to stimulate start-up businesses and job creation, the NYS
Entrepreneurial Training Act of 2014 will help train potential entrepre-
neurs. Instead of just handing money over to potential entrepreneurs,
NYS Entrepreneurial Training Act of 2014 will train them how to start
and manage a business. Training potential entrepreneurs will make their
start-up businesses more like to succeed.

As the new businesses begin to grow, they will hire new employees and
increase tax revenues to the state.

PRIOR LEGISLATIVE HISTORY:

This is a new bill.

FISCAL IMPLICATIONS FOR STATE & LOCAL.GOVERNMENTS:

The initial cost to the state will be approximately $5.5 million. Over
time, the state will receive additional taxes, including sales and
employments taxes, that is undetermined at this time.

EFFECTIVE DATE:

This act shall take effect immediately.

2013-S7406 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7406

                            I N  S E N A T E

                              May 14, 2014
                               ___________

Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Education

AN ACT to amend the education law, in  relation  to  creating  the  "NYS
  entrepreneurial training act of 2014"

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. This act shall be known and may be cited as the "NYS entre-
preneurial training act of 2014".
  S 2. The education law is amended by adding two new sections 4608  and
4609 to read as follows:
  S  4608.  ENTREPRENEURIAL  TRAINING  GRANT PROGRAM. 1. THERE IS HEREBY
ESTABLISHED WITHIN THE  DEPARTMENT  AN  ENTREPRENEURIAL  TRAINING  GRANT
PROGRAM.  THE PROGRAM SHALL BE FORMULATED BY THE COMMISSIONER AND ADMIN-
ISTERED BY INDIVIDUAL PARTICIPATING CITIES. THE PURPOSE OF  THE  PROGRAM
SHALL  BE  TO PROVIDE GRANTS TO ELIGIBLE APPLICANTS TO SUPPORT AND TRAIN
ENTREPRENEURIAL CANDIDATES.
  2. IN ORDER FOR AN ELIGIBLE APPLICANT TO RECEIVE AN AWARD OF AN ANNUAL
GRANT AN APPLICANT SHALL SUBMIT WITH ITS APPLICATION A GRADABLE BUSINESS
PLAN FOR THE USE OF THE GRANT MONEY.
  3. A MINIMUM OF TWENTY PERCENT OF  THE  PARTICIPANTS  OF  THE  PROGRAM
SHALL  BE  NEW YORK STATE CERTIFIED MINORITY AND WOMEN'S BUSINESS ENTER-
PRISES AND A MINIMUM OF TEN PERCENT SHALL  BE  VETERANS  OF  THE  UNITED
STATES MILITARY.
  S  4609.  ENTREPRENEURIAL  TRAINING  GRANT  PROGRAM  AWARDS. 1. WITHIN
AMOUNTS APPROPRIATED THEREFOR, THE COMMISSIONER SHALL BE  AUTHORIZED  TO
GRANT  AWARDS FOR THE SUPPORT OF APPROVED ENTREPRENEURIAL TRAINING GRANT
PROGRAMS.
  2. GRANTS  TO  SUPPORT  AN  APPROVED  ENTREPRENEURIAL  TRAINING  GRANT
PROGRAM  SHALL  BE  AWARDED  ON  A  COMPETITIVE BASIS IN ACCORDANCE WITH
CRITERIA ESTABLISHED BY THE COMMISSIONER.
  3. THE DEPARTMENT SHALL,  FROM  WITHIN  AMOUNTS  APPROPRIATED  TO  THE
DEPARTMENT,  UNDERTAKE ALL ACTIVITIES NECESSARY TO PLAN FOR AND PRELIMI-
NARILY PROVIDE FOR THE  TIMELY  IMPLEMENTATION  OF  THE  ENTREPRENEURIAL

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13320-01-3

S. 7406                             2

TRAINING  GRANT  PROGRAM AUTHORIZED BY THIS ARTICLE FOR THE STATE FISCAL
YEAR COMMENCING ONE YEAR FOLLOWING THE EFFECTIVE DATE OF THIS SECTION.
  4.    PARTICIPATING  CITIES HAVING A POPULATION OF ONE MILLION OR MORE
SHALL BE ALLOCATED FIVE MILLION DOLLARS. ONE MILLION  DOLLARS  SHALL  BE
USED  FOR  THE  OPERATION  OF THE PROGRAM. FOUR MILLION DOLLARS SHALL BE
USED TO GRANT FOUR  HUNDRED  TEN-THOUSAND-DOLLAR  GRANTS  TO  SUCCESSFUL
GRADUATES OF THE PROGRAM.
  5.  PARTICIPATING  CITIES  HAVING  A POPULATION OF BETWEEN ONE HUNDRED
THOUSAND AND LESS THAN ONE MILLION SHALL BE ALLOCATED FIVE HUNDRED THOU-
SAND DOLLARS. ONE HUNDRED THOUSAND DOLLARS SHALL BE USED FOR THE  OPERA-
TION  OF  THE  PROGRAM.  FOUR  HUNDRED THOUSAND DOLLARS SHALL BE USED TO
GRANT FORTY TEN-THOUSAND-DOLLAR GRANTS TO SUCCESSFUL  GRADUATES  OF  THE
PROGRAM.
  S  3.  This  act shall take effect immediately; provided, however that
the commissioner of education shall have the authority to promulgate any
rules or regulations necessary for the implementation of this act.

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Senate Bill S7406

Sponsored By

Archive: Last Bill Status - In Senate Committee Education Committee

2013-S7406 (ACTIVE) - Details

2013-S7406 (ACTIVE) - Summary

2013-S7406 (ACTIVE) - Sponsor Memo

2013-S7406 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S7406

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Sponsored By

James Sanders Jr.

Archive: Last Bill Status - In Senate Committee Education Committee

2013-S7406 (ACTIVE) - Details

2013-S7406 (ACTIVE) - Summary

2013-S7406 (ACTIVE) - Sponsor Memo

2013-S7406 (ACTIVE) - Bill Text download pdf

Comments