New York State Assembly - 1997 Annual Report - Committee on Small Business

Honorable Sheldon Silver, Speaker
The New York State Assembly
347 State Capitol
Albany, New York 12248

It is my pleasure to present to you the Annual Report for the Assembly's Standing Committee on Small Business. As the new Chair of the Committee, I am pleased with our efforts during the 1997 Legislative Session.

One of the Committee's most notable accomplishments of 1997 was our assistance in the development of your Certified Capital Companies bill, which encourages insurance companies to invest in small businesses through a unique State assisted venture capital program. CAPCO limits the interaction between government and businesses, allowing the free market to be the true driving force in small business development. I thank you for your sponsorship of this vital piece of legislation.

Acting in its role as an advocate on behalf of small businesses, the Committee played a vital role in the enactment of many other significant pieces of legislation. One such crucial issue was the expansion of the Excelsior Linked Deposit Program (ELDP) to the Farm Credit System. This is a lending cooperative that traditionally loans money to farmers and farm related industries. Farm borrowers, like many small businesses, have found it extremely difficult to secure credit for growth. The participation of the Farm Credit System in the Excelsior Linked Deposit Program has enabled farmers to maintain a relationship with their lending institution while providing a new avenue to low-cost capital.

In 1997, the Small Business Committee introduced a package of bills aimed at assisting small businesses with the implementation of pollution prevention measures. One highlight of this package is the Small Business Environmental Compliance Fund. This program assists companies in leveraging loans from private lenders for the acquisition of pollution control equipment. Traditionally, both private and public sources of financing have avoided small business lending for environmental compliance due to the higher risks and administrative costs of these loans.

In an effort to explore alternative ways of assisting small businesses, the Committee held a hearing on remanufacturing last year. This provided a forum for a largely unknown industry to discuss its strengths and needs. This emerging sector presents many opportunities for growth and expansion for small businesses in New York State. It incorporates environmentally conscious, energy efficient, labor intensive, globally competitive, and cost-effective processes to revive and restore a used product to like-new condition. Remanufacturing has a long term impact on the global economy by assisting New York State companies in meeting the compliance standards of environmental regulations established in the 21^st Century and reducing both production and consumer costs without jeopardizing the quality of function of the original product. The Committee will continue to examine how New York State might best support and lead the remanufacturing movement.

The Committee will continue to examine the full range of issues affecting the small business work place and small business capitalization needs. We look forward to an active and productive role in these areas in 1998.

I join with my colleagues on the Small Business Committee in commending you for your commitment and support of small business development. The Committee eagerly anticipates another session under your leadership, pursuing efforts to create a healthy environment for small businesses to prosper in New York State.

Francis P. McNally, Legislative Coordinator
Erik Trojian, Legislative Associate
Kristie Killough-Ali, Associate Counsel
Dan Farfaglia, Committee Clerk
Lisa A. Allen, Program and Counsel Secretary

The New York small business sector continues to prove itself the driving force in the State's economy. Small businesses are defined in State law as those employing 100 or fewer people. This includes over one million businesses in New York State, approximately 95% of all businesses. The contribution by small firms to New York's economy is significant: according to the New York State Department of Economic Development, most new jobs are created by small business owners, with more than half of all the State's private sector, non-agricultural employees working for small businesses.

An entrepreneurial explosion is underway that promises to continue for several decades. New entrepreneurs, many of whom were victims of recent corporate downsizing, have contributed greatly to the exporting explosion that has more than doubled total overseas sales since 1986. A surprising number of home-based businesses have also appeared in recent years, causing some economists to conclude that very small businesses (those comprising 20 or fewer employees) are increasingly becoming major players in the State's economy. The importance of these small ventures cannot be overstated: by testing new ideas, products, and processes, they are re-inventing New York State's future in the global marketplace.

Maintaining a healthy small business sector is far from simple. Regulations, mandates, and governmental requirements pose much more difficult challenges for small businesses than for their larger corporate counterparts. For small firms, compliance can be hindered by a lack of the requisite in-house resources or expertise. Small companies, with limited resources, must often struggle to enter competitive new markets, vie with more established businesses for skilled labor, deal with forever changing laws and regulations and government agencies sometimes unequipped to assist them with their concerns, and face increasing global competition.

Small businesses, however, have not always been seen as a distinct group. Too often, their concerns have been aggregated with the general interests of a specific industry or sector. This perspective fails to consider that many small businesses in very different industries are similarly affected by laws and economic factors in ways that are not at all relevant to their larger counterparts.

Most small business owners are unable to take time away from their businesses to monitor State legislation actively and to inform lawmakers of the effect that proposed laws could have on the small business sector. Therefore, the mission of the Small Business Committee is to serve as an advocate for small business owners, and to ensure that small business interests are highlighted and not lost in the legislative process.

New York State statutes affected by legislation before the Committee include the Banking Law, Tax Law, Economic Development Law, State Finance Law, Public Authorities Law, Labor Law, and the Civil Practice Law and Rules.

Although the Committee's areas of concern are wide-ranging, many bills that affect small business are integrally related to the jurisdictions of other Assembly committees. As a result, many small business issues, such as changes in taxation, economic development programs, insurance, State agencies' regulatory practices, and employee benefit programs, are not directly within the jurisdiction of the Small Business Committee. These and many other issues of importance to small businesses are referred to other Assembly committees which have direct jurisdiction over such subjects. They include: the Committees on Economic Development, Job Creation, Commerce and Industry; Banks; Labor; Insurance; Governmental Operations; and Ways and Means. The Small Business Committee remains involved by working closely with these committees.

The Committee also works closely with a number of State agencies and public authorities to ensure that they are serving the needs of the small business community. The Committee works with the Department of Economic Development (DED), the Science and Technology Foundation (STF), the Job Development Authority (JDA), and the Urban Development Corporation (UDC) (also known as the Empire State Development Corporation), which are the State's chief economic development entities. The Committee oversees the work of the State University of New York in administering the Small Business Development Centers (SBDC) Program as well.

During the 1997 Session, the Standing Committee on Small Business reported 10 (ten) bills favorably. Of those bills, 8 (eight) passed the Assembly. In addition, a number of bills that were of importance to small firms, but were referred to other Committees, became law with the assistance and input of the Small Business Committee.

The Small Business Committee will continue to be active in Assembly and State efforts to advance the needs of small businesses, while also advocating reforms to improve New York State's business climate.

The Assembly majority created a comprehensive job development strategy known as "Real Jobs for New Yorkers." In this plan the Assembly identified sectors of the economy that will need to be bolstered if New York State is to once again become the Empire State.

The Assembly is committed to real job growth. Our job creation plan is one element of that commitment. The Assembly proposed a $2 billion economic development strategy to create or retain over a quarter of a million jobs in New York State over the next three years. The Assembly's economic development strategy will conservatively create over 70,000 jobs, including 10,000 in the construction industry and retain over 190,000 jobs resulting in the retention and growth of entire industries employing over one million New Yorkers in every region of the State.

The Entrepreneurial Assistance Program (EAP) received an increase in funding making their total support $2 million, a $1 million increase from previous years. The EAP program is dedicated to assisting people who are looking to start new businesses.

The Assembly remains committed to assisting economically distressed areas through the appropriate funding of Economic Development Zones. Funding has been increased to $2 million, which represents a restoration to prior year amounts.

Other important budget results of note are the increases in access to capital for small businesses. Community Development Financial Institutions received $2 million of funding which in turn will leverage $4 million in federal funds. In addition, $500,000 is provided for Technology Development Organizations. This money will leverage $1.5 million from federal funds. These are only a few of the budget accomplishments that the Assembly has championed to assist the development of small businesses in New York State.

We continue to press for real reform in State government. The Assembly's plan consolidates the State's multiple and unaccountable economic development authorities into one financing agency and vests the Department of Economic Development with the primary responsibility for State economic development.

The Assembly plan also commits New York State to real regulatory reform. Our proposed Regulatory Bill of Rights and related reforms will provide businesses, workers and the public with a direct role in shaping State regulations and cast much needed sunlight on State agencies and their role as regulators.

A list of the Small Business Committee's efforts to reduce burdensome and unnecessary regulations can be found in the Regulatory Reform section of the annual report. In addition, the Assembly reversed a proposal that would have altered the appropriate direction of the Urban Development Corporation.

Electric utility costs are now 72 percent above the national average. The Assembly Competition Plus/Energy 2000 initiative will bring competition and significant reduction in rates to all New York ratepayers while maintaining high standards of services. Over the next five years, the dramatic reduction in energy rates realized by the Assembly proposal will create 25,000 new jobs.

The Assembly was successful in the creation of "Power for Jobs," a program that will reduce electric cost for eligible small businesses. "Power for Jobs" is administered by the New York Power Authority.

The Assembly developed an innovative method for much needed capital formation for small businesses through the introduction of A.8493, known as CAPCO. A.8493 grants $100 million of tax credits over ten years to insurance companies for their investment of funds into venture capital firms. This money is then used solely to lend to small businesses. The loan money generated will create access for small businesses to an unprecedented pool of venture capital funds. By utilizing the private market's venture capital companies, one of the most successful lending markets, the State is able to generate hundreds of millions of new loan money for emerging small businesses. CAPCO underscores the Assembly's continued efforts to assist small businesses in accessing new sources of capital.

The Excelsior Linked Deposit Program (ELDP) was established pursuant to Chapter 705 of the Laws of 1993. This Act created an innovative partnership that provides bank loans to small businesses at an interest rate which is 2% to 3% lower than the prevailing rate. Participating commercial banks, savings banks and savings and loan associations are compensated through State deposits of funds at a comparably reduced interest rate.

As of mid-October, 1996, a total of 218 "linked loans" had been approved through ELDP, totaling more than $84 million and financing small business investments totalling well over $142 million. These loans have been key to the creation of 1,762 jobs and the preservation of more than 7,700 existing jobs throughout New York State. These "linked" loans represent situations where, without reduced interest rate financing through ELDP, the small business loan applicant would have been unable to secure bank financing.

According to a Department of Economic Development analysis, the total cost per job retained/created was $393 and $1,773, respectively, making ELDP among the most cost-effective State economic development programs.

The Small Business Committee saw value in the expansion of this program to the Farm Credit System, a lending cooperative that traditionally loans money to farmers and farm related industries. Farm borrowers, like many small businesses, have found it extremely difficult to secure credit for the expansion of their business. By allowing the Farm Credit System to participate in the Excelsior Linked Deposit Program, farmers can maintain a relationship with their lending institution while providing a new avenue to access low-cost capital for future growth.

A secondary market provides lenders with increased liquidity by allowing them to sell loans to investors, thereby creating new capital to increase lending.

The Federal Small Business Loan Securitization and Secondary Market Enhancement Act of 1994 (P.L. 103-325) was designed to decrease the risk of small business lending to banks and increase the amount of capital available to small businesses. Although this federal law encourages the creation of a secondary market through the relaxation and modification of federal and State laws, it does not authorize or give responsibility to any particular entity for bundling and selling loans.

In 1997, A.1235 was introduced into the State Assembly, through the Small Business Committee, to consider the establishment of a secondary market for small business loans. A.1235 would authorize New York Business Development Corporation to conduct a study of the feasibility of a secondary market for small business loans made by the U.S. Government, the State or any instrumentality thereof, any municipality or agency thereof, any banking organization or local development corporation.

The Employment Incentive Credit (EIC). This law extends the EIC to small businesses, such as partnerships, S corporations, limited liability corporations, limited liability partnerships and sole proprietorships whose owners pay taxes under the personal income tax. It also extends the economic development zone employment incentive credit to these taxpayers. The credits apply to taxpayers making a qualified investment tax credit (ITC) and as a result increase their number of employees.

The Power for Jobs Programs. This program creates a new tax credit against the tax on the furnishing of utility services imposed by the Tax Law. It is available to help compensate utilities for revenue losses associated with participating in the program. The program has been established to make low-cost power available to businesses, small businesses and not-for-profit corporations who create or retain jobs.

The ITC Carryforward. The new budget extends the investment tax credit carryforward period from 10 to 15 years. Any unused pre-1987 credits will not be available until 2002 to provide relief for businesses. Post-1986 credits will have a 15-year carryforward.

The Alternative Fuels Vehicle Credit. The new law allows credits for electric vehicles, clean fuel vehicles using natural gas, methanol and other alternative fuels, and clean fuel refueling facility property. The credits are available for property placed in service in taxable years beginning on or after January 1, 1998, and before 2003. They apply to corporate franchise taxpayers, personal income taxpayers and corporation taxpayers, such as utilities. Gas and electric corporations are excluded from claiming the electric vehicle tax credit and are also excluded from the sales tax exemption for the incremental cost of an electric vehicle; however, they may claim all other credits and sales and use tax exemptions allowed under the bill, including those for refueling facilities.

Credit for employers who hire persons with disabilities. This new law is available to employers who pay franchise tax under Articles 9, 9-A, 32 or 33, and to employers who are not incorporated and pay tax under the personal income tax, Article 22. The credit equals 35% of the first $6,000 of first year wages paid to the disabled employee (a maximum of $2,100 per employee); however, if the first year wages qualify for the federal work opportunity tax credit, the New York credit will apply to second year wages. To become eligible for the State credit, a disabled employee must work for the employer on a full time basis for at least 180 days or 400 hours and must be certified as disabled by the State Education Department.

Life insurance premiums tax rate and cap reductions. The budget provides for a premiums tax rate reduction and a reduction in the limitation on tax liability for life insurers effective January 1, 1998. The premiums tax rate will decrease from 2.6% to 2.0%. In addition, the budget provides that the first installment of estimated tax will increase from 25% to 40% of the preceding year's tax, effective January 1, 1999.

Credit for investment in certified capital companies. The budget allows insurance companies subject to Article 33 to claim a credit for 100% of the amount invested in certified capital companies (CAPCOS) effective for taxable years beginning after 1998, although the credits may be earned before 1999. The credit would be claimed over ten years at a rate of 10% each year. There is a Statewide cap of $100 million on the total amount of investments for which credits may be claimed (no more than $50 million for 1999). In addition, in total, insurance companies may not claim credits of more than $10 million in any taxable year.

The present New York State corporate franchise tax law is marked by unnecessary complexities and inherent inequalities which result in disproportionate taxes for small businesses. This measure would eliminate the investment capital alternative method of computing the franchise tax on small corporations. A.6120 extends an existing exclusion, the calculation of the franchise tax based upon business and investment capital, to all small businesses not just new ones. Requiring the payment of taxes on capital in certain instances can be a cause of failure; in other cases it could actually deter small businesses from even undertaking certain projects, due to the tax consequences they know they will face. This bill helps alleviate the problem by making the tax law less of a burden and freeing more time and money for other business initiatives.

This bill would exempt most small businesses from the additional reporting requirements set forth in New York State law. Once a business is incorporated, it often remains stable and does not change location or officers. This information is already obtained at the time of incorporation.

Section 408 of the Business Corporations Law, which this bill addresses, currently contains an exemption for farm corporations, due to their small profit margins and limited ability to comply with onerous bureaucratic requirements. Small businesses, as defined in the Economic Development Law, operate under identical circumstances and should thus be afforded the same exemption.

A reoccurring concern of small businesses is the manner and force with which regulations are enforced. This bill would require State regulatory agencies to mirror the efforts of federal regulatory agencies, by preparing "compliance guides" which explain in plain language the actions a small business is required to take to comply with a rule.

On occasion, some agencies in New York State have attempted to "make examples" of businesses by assessing sizable and disproportionate penalties for seemingly minor rule violations. This bill would provide a "compliance window," which allows a waiver of civil penalties for small businesses with minor rule violations. The compliance window would be offered only if the small business has maintained a clean compliance record for the past 5 years, if the violation was not a crime or an action capable of impairing the public health, safety or welfare, and if the small business has rectified the violation.

Easing the regulatory burden on small businesses may often be as simple as providing some degree of flexibility in compliance with State regulations. Making a one-time payment of $500, $1000, $2500, or more, often presents a true hardship to a cash-starved small business. This bill would enable small businesses and local governments to make quarterly installment payments for fees or civil penalties owed to State agencies.

Small businesses often argue that forms and reporting requirements of State agencies are excessive and repetitive. By detracting from the time and limited personnel available to small businesses, the resources and time spent on complying with paperwork requirements can act as a "hidden tax." Therefore, modeled after the federal "Paperwork Reduction Act of 1996," this bill would create a measurable program of reductions in the paperwork imposed by State agencies by at least 15% by the year 2001.

While we all favor fee reduction, the collection of fees is a necessary function of government. This money ensures that taxpayers do not bear the entire burden of funding government programs. However, assessing small businesses the same fees as larger corporations is unfair given the difference in time and resources that an agency expends regulating a small business compared to a larger corporation. This bill would require agencies to tier new fees based on business size to determine fee equity.

Current law requires a thorough cost/benefit analysis be outlined in a regulatory impact statement (RIS). Unfortunately RISs are not consistently interpreted by State agencies. This proposal, which passed the Assembly on May 5th, would require agencies to publish reasonably accurate and comprehensive assessments of the costs and benefits of all proposed rules.

Bill A.6084 passed the Assembly and advanced to the Senate's Rules Committee, where it remained.

The adoption and immediate effective date of changes to the building code have been blamed for lengthy delays in the major renovation of a health care facility in upstate New York. In the real world, contractors and sub-contractors (who tend to be small businesses) need adequate lead time to incorporate building code changes into their plans. This bill would incorporate a 90 day delay in the effective date of amendments to the building code to allow time for the changes in the building code to be implemented into construction project plans.

The face of the State's small business environment is continually changing. Sometimes rules that were once appropriate and beneficial, become burdensome and costly. This bill would provide for the review of a rule two years after its adoption. Requiring agencies to publish a two-year reminder, would make regulated parties aware of the fact that they have an opportunity to comment on the effectiveness of a rule and advise an agency on whether a rule needs re-examination or modification.

The Federal Clean Air Act of 1990 (42 U.S.C. § 7401 et seq) and the State Clean Air Compliance Act of 1993 (Chapter 608) imposed considerable new burdens on many small businesses across New York State. As a result of these new regulations, many small companies must now invest in pollution control equipment at a time when access to capital for small businesses is often difficult. Both private and public sources of financing have historically avoided small business lending for environmental compliance because of the relatively higher risks and administrative costs of those loans.

This bill would establish the Small Business Environmental Compliance Fund within the New York State Environmental Facilities Corporation (EFC). The fund would assist small businesses in leveraging loans from private lenders for the acquisition of pollution control equipment. EFC would administer a loan loss reserve to support private sector loans to small businesses seeking to comply with the requirements of the Federal Clean Air Act and the State Clean Air Compliance Act. The fund would back up to 90% of a loan, with the size of the loan capped at $500,000, and a maximum term of seven years.

A.1421 would build on existing relationships between a small business and a financial institution, and involve the expenditure of State funds only in the event of a loan default. The fund would not only assist small businesses and New York State in achieving compliance with Clean Air requirements, but would also assist many businesses in developing better credit relationships with private lenders.

In addition, use of UDC's Regional Revolving Loan Trust Fund would provide very small businesses with a source of "micro-loans" necessary to finance compliance. These small loans are often foregone by private lenders because of their relatively high administrative costs.

This bill would authorize the regional offices of DED to provide assistance to small businesses for compliance with federal and State environmental laws and implementation of pollution prevention measures.

DED regional offices would be specifically empowered to assist small businesses in accessing available programs for technical and financial assistance. Such help would be targeted at promoting compliance with environmental standards and multi-media pollution prevention efforts.

This bill would establish the Small Business Clean Environment Compliance Fund within the New York State Environmental Facilities Corporation (EFC). The fund would be used to encourage private lenders to make pollution prevention or compliance loans to small businesses backed by a loan loss reserve fund. By increasing the ability of small businesses to meet new regulations, through an increased access to funding, companies will be able to maintain the same level of product and employment.

This bill would expand the DED Industrial Effectiveness Program (IEP) to provide technical assistance to small businesses for pollution prevention and environmental compliance.

Since the enactment of the Federal Clean Air Act Amendments in 1990 and the State Clean Air Compliance Act of 1993, it has become evident that these new environmental regulatory burdens necessitate public sector relief. Small businesses need clarity and assistance from the State in navigating through regulatory requirements. They also need assistance in pursuing pollution prevention opportunities, which are often the most effective and least expensive way to achieve compliance. The existing IEP offers the perfect opportunity for the State to extend such assistance. This program currently offers similar services in such areas as productivity assessments, marketing, and improving management/labor relations. Utilizing IEP to offer similar services to small businesses for pollution prevention or environmental compliance would be a valuable extension of a successful State program.

This bill would include pollution prevention projects for those eligible to receive business development loans; business infrastructure loans; grants from the Regional Economic Development Partnership Program (REDs), administered by UDC. This legislation is designed to assist small businesses in cutting environmental compliance costs through the design and implementation of pollution prevention projects.

A.2969 would also make eligible municipal pollution prevention programs for economic development assistance grants.

Current Public Service Law dictates that the Public Service Commission require telecommunications firms to offer a plan for the deferred payment of installation charges of up to one year for residential telephone lines. Thus, persons who otherwise could not afford to pay the installation charges may pay over the course of a year. This amendment would extend such a payment option to small businesses, thereby easing the burden of start-up and expansion costs with respect to telecommunication services, which is a growing necessity for many small businesses.

The introduction of a new chair to the Small Business Committee has provided new ideas and new goals. The Committee is determined to address the future needs of small business, making New York a supportive environment for their growth. In an effort to facilitate dialogue with the business community and better understand their complex needs, the Committee will conduct a series of Statewide round tables.

Issues of regulatory reforms, small business taxes, access to capital, information and networks will all be addressed. In addition, a regional focus will be added to discover the diverse business environment of New York. By understanding how businesses interact with State government, we will be better able to make New York a place where small businesses will prosper.

Small businesses accounts for over 90% of businesses in New York State. Due to the impact on the work force of New York, it is extremely important that small business and the labor force assist one anther. The Small Business Committee will continue to investigate ways to develop skilled workers. In addition, the Committee is determined to connect New York's academic environment with the small business community. By providing ways for small businesses to increase their research and development capabilities, New York's economy will become one of the finest and most productive in the world.

The Small Business Committee is eagerly awaiting the upcoming year with new ideas and new ambition. We are well on our way in making New York's small business environment one of the most prosperous in the world.

Final Action	Assembly Bills	Senate Bills	Total
Bills Reported With or Without Amendment
To Floor; not returning to Committee	2	0	2
To Floor; recommitted and died	0	0	0
To Ways and Means	8	0	8
To Codes	0	0	0
To Rules	0	0	0
To Judiciary	0	0	0
Total	10	0	10
Bills Having Committee Reference Changed
To ____________________ Committe
Total
Senate Bills Substituted or Recalled
Substituted		1	1
Recalled		0	0
Total		1	1
Bills Defeated in Committee
Bills Never Reported, Held in Committee	6	0	6
Bills Never Reported, Died in Committee
Bills Having Enacting Clauses Stricken
Motion to Discharge Lost
Total Bills in Committee	16	1	17
Total Number of Committee Meetings Held	3

APPENDIX B

FINAL ACTION ON BILLS REPORTED BY THE SMALL BUSINESS COMMITTEE

ASSEMBLY BILL #	SENATE BILL #	FINAL ACTION	DESCRIPTION
A.396 Destito		Passed Assembly	Relates to the industrial effectiveness program.
A.693 Destito		Passed Assembly	Relates to financial assistance to small businesses for the purpose of environmental compliance and pollution prevention.
A.1235 Schimminger		Passed Assembly	Would authorize New York business development corporation to study the feasibility of buying small business loans or creating loan pools.
A.1236 Schimminger		Held in Small Business Committee	Establishes a small business loan secondary market program.
A.1421 Destito		Passed Assembly	Relates to financial assistance to small businesses for the purpose of environmental compliance.
A.1883 Norman		Held in Small Business Committee	Would provide for small business set-aside purchase and construction contracts for the Downstate Medical Center.
A.2223 Griffith		Held in Small Business Committee	Would establish a venture capital network on small capital investment opportunities in this State.
A.2562 Pillittere	S.1755 Stachowski	Held in Small Business Committee	Would require notification to New York businesses of bid proposals.
A.2969 Englebright		Passed Assembly	Would include small business pollution prevention projects within the regional economic development partnership program.
A.3666 Christensen		Passed Assembly	Would provide for regional offices to offer information and assistance to small businesses in environmental compliance and pollution prevention.
A.4391 Genovesi		Passed Assembly	Would require deferred installment payment plan be offered to small businesses for telephone service installation, initiation and nonrecurring maintenance charges.
A.5266 Gantt	S.939 Abate	Held in Small Business Committee	Would create the jobs and small business continuation network.
A.5508 Magee	S.3030 Marcellino	Held in Small Business Committee	Would exempt from freedom of information requests material provided by small businesses to the environmental facilities corporation's multimedia environmental assistance.
A.6120 Morelle	S.3811 Wright	Reported to Assembly Ways and Means Committee	Would expand to all small business concerns not merely new ones, the exclusion from required calculation of business and investment capital in determining franchise tax due.
A.6121 Morelle	S.3988 Alesi	Third Reading	Would exempt small businesses from requirement of filing a statement of its addresses and directors.
A.6874 Parment	S.4013 Kuhl	Chapter 473	Allows farm credit system institutions to participate under the excelsior linked deposit act.

APPENDIX C

LIST OF LAWS ENACTED DURING THE 1997 LEGISLATIVE SESSION

CHAPTER	ASSEMBLY BILL #/ SPONSOR	SENATE BILL #/ SPONSOR	DESCRIPTION
473	A.6874 Parment	S.4013 Kuhl	Allows farm credit system institutions to participate under the excelsior linked deposit act.

New York State Assembly
[ Welcome Page ] [ Legislative Reports ]

Majority	Minority
Eric N. Vitaliano	Dr. Joel Miller,
Peter J. Abbate, Jr	Ranking Minority Member
Joan Christensen	Robert G. Prentiss
RoAnn M. Destito	Sandra Lee Worth
Gregory W. Meeks	Marc W. Butler
Robert Sweeney
David Koon
Richard A. Smith
Nelson A. Denis

I.	INTRODUCTION
II.	COMMITTEE JURISDICTION AND ACTIVITY
III.	1997-98 BUDGET RESULTS
	A. ECONOMIC DEVELOPMENT
	B. GOVERNMENT REFORM
	C. COMPETITION PLUS/ENERGY 2000
IV.	MAJOR ISSUES OF 1997
	A. CAPITAL FORMATION AND DEVELOPMENT
	B. TAX REFORM
	C. REGULATORY REFORM
	D. ENVIRONMENTAL COMPLIANCE ASSISTANCE FOR SMALL BUSINESSES
	E. SMALL BUSINESSES AND UTILITIES
V.	OUTLOOK FOR 1998
APPENDICES
	APPENDIX A: Summary of Action on All Bills Referred to the Committee on Small Business
	APPENDIX B: Final Action on Bills Reported by the Small Business Committee
	APPENDIX C: List of Laws Enacted During the 1997 Legislative Session