Text of NY A 4083 (2024)

STATE OF NEW YORK ________________________________________________________________________ 4083 2023-2024 Regular Sessions IN ASSEMBLY February 9, 2023 ___________ Introduced by M. of A. CUNNINGHAM -- read once and referred to the Committee on Economic Development 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. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07606-02-3 A. 4083 2 1 4. "Employee ownership association" means a corporation or other asso- 2 ciation formed by or on behalf of the employees of an industrial or 3 manufacturing plant or business located in this state for the purpose of 4 assuming ownership or control of the plant or business and operating it 5 as an employee-owned enterprise or as a worker cooperative as defined in 6 section eighty-one of the cooperative corporations law. 7 8. "Business" includes a sole proprietorship, partnership or corpo- 8 ration operating in this state. 9 9. "Project cost" includes all reasonable and necessary costs to be 10 incurred in the course of an eligible project, including any anticipated 11 acquisition, construction, land acquisition, improvements, equipment, 12 pertinent rights and easements, and associated technical, engineering, 13 legal and financial services. 14 § 3. Paragraph (b) of subdivision 1 of section 1836-c of the public 15 authorities law, as added by chapter 788 of the laws of 1983, is amended 16 to read as follows: 17 (b) the history and circumstances of the plant or business to be 18 acquired; 19 § 4. Section 1836-d of the public authorities law, as added by chapter 20 788 of the laws of 1983, is amended to read as follows: 21 § 1836-d. Loan preferences. In approving applications for loans under 22 this subtitle, the authority shall give preference to projects which: 23 1. have a membership consisting of a majority of minority, transgen- 24 der, or non-binary members; 25 2. have a higher level of funding from the funding partners; 26 [2.] 3. have the most direct impact on local economic development and 27 the creation or retention of employment opportunities; 28 [3.] 4. are most likely to stimulate other private sector investments; 29 and 30 [4.] 5. are least speculative, and provide greatest assurance of 31 repayment of the loan. 32 § 5. Subdivision 7 of section 104-a of the economic development law, 33 as added by chapter 788 of the laws of 1983, is amended to read as 34 follows: 35 7. Identify [industrial and manufacturing] businesses that are in 36 danger of being permanently closed or relocated out of state, which 37 results in the loss of jobs and increasing unemployment, and assist the 38 businesses and employees of such businesses by distributing information 39 about the provisions of this section. 40 § 6. Subdivisions 3 and 4 of section 210 of the economic development 41 law, as amended by chapter 669 of the laws of 2022, are amended to read 42 as follows: 43 3. "Minority business enterprise" shall mean any business enterprise 44 which is at least fifty-one per centum owned by, or in the case of a 45 publicly owned business at least fifty-one per centum of the stock of 46 which is owned by, citizens or permanent resident noncitizens who are 47 transgender or non-binary, Black, Hispanic, Asian or American Indian, 48 Pacific Islander or Alaskan Native where such ownership interest is 49 real, substantial and continuing and where such persons have the author- 50 ity to independently control the day-to-day business decisions of the 51 entity. 52 4. "Minority group member" shall mean a United States citizen or 53 permanent resident noncitizen who is and can demonstrate membership in 54 one of the following groups: 55 (a) Black persons having origins in any of the Black African racial 56 groups not of Hispanic origin; A. 4083 3 1 (b) Hispanic persons of Mexican, Puerto Rican, Dominican, Cuban, 2 Central or South American descent of either Indian or Hispanic origin, 3 regardless of race; 4 (c) Asian and Pacific Islander persons having origins in the Far East, 5 Southeast Asia, the Indian sub-continent or the Pacific Islands; or 6 (d) American Indian or Alaskan Native persons having origins in any of 7 the original peoples of North America; or 8 (e) Transgender or non-binary. 9 § 7. This act shall take effect immediately.