Updates from the Committee on Small Business

Legislative Update from the New York State Assembly Committee on Small Business
June 11, 2010

Below are the activities of the Assembly Small Business Committee thru the month of June 2010. As you can see from the following list of bills that came through the Small Business Committee, we have made some progress in our efforts to bring improvements to the small business community.

A.5449 (Rivera,P.)

This act would assist in expanding lending opportunities to small businesses through the Excelsior Deposit program. The bill allows the New York State Comptrollerís Office and the Department of Taxation of Finance to make a single Excelsior linked deposit that will provide funding for a series of eligible small business loans up to $50,000. This act also extends the term of the loan from four to five years.

Report to: Ways and Means
Advanced to third reading in the Assembly

A.8417-A (Rivera,P.)

This bill will aid the small business community with new financial products. The division of Small Business at the Economic Development Corporation would be required to evaluate and examine the means and methods of establishing new financial products.

Report to: Rules
Advanced to third reading in the Assembly

A.11053 (Espaillat)

This bill will revitalize the Entrepreneurship Assistance Centers program which serves local development corporations, community based business outreach centers, chambers of commerce, and other community-based organizations. This program will assist women, minorities, and persons with disabilities in the principles and practices of self-employment. This program will also establish the selection criteria and install a designation process for these centers.

Report to Ways and Means
Advanced to third reading in the Assembly

Links to important Small Business websites

Empire State Development:
http://www.nylovesbiz.com/default.asp

Empire State Development Division of Small Business:
http://www.nylovesbiz.com/SmallBusiness.html

Small Business Task Force:
http://www.nysmallbiztaskforce.org/