New York A 7663: Relates to establishing the New York state innovation voucher program

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A07663 Summary:

BILL NOA07663 

&nbsp

SAME ASSAME AS S09675

&nbsp

SPONSORStern (MS)

&nbsp

COSPNSRStirpe, Rivera, Benedetto, Smith, Burdick

&nbsp

MLTSPNSRPalmesano

&nbsp

Add §16-bb, amd §16-m, UDC Act

&nbsp

Establishes the New York state innovation voucher program; provides small businesses with access to research and development by colleges and universities, government laboratories and public research institutes in order to assist such businesses in the creation of innovative products or services.

Go to top A07663 Actions:

BILL NOA07663 

&nbsp

04/04/2025referred to small business

01/07/2026referred to small business

Go to topA07663 Committee&nbspVotes:

Go to topA07663 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA07663 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7663

 2025-2026 Regular Sessions

 IN ASSEMBLY

 April 4, 2025
 ___________

 Introduced by M. of A. STERN, STIRPE, RIVERA, BENEDETTO, SMITH --
 Multi-Sponsored by -- M. of A. PALMESANO -- read once and referred to
 the Committee on Small Business

 AN ACT to amend the urban development corporation act, in relation to
 establishing the New York state innovation voucher program

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "New York state innovation voucher program act".
 3 § 2. Section 1 of chapter 174 of the laws of 1968, constituting the
 4 New York state urban development corporation act, is amended by adding a
 5 new section 16-bb to read as follows:
 6 § 16-bb. New York state innovation voucher program. (1) Program estab-
 7 lished. There is hereby established a New York state innovation voucher
 8 program under the purview of the empire state development corporation.
 9 Such program shall provide small businesses with access to research and
 10 development by colleges and universities, government laboratories and
 11 public research institutes in order to assist such businesses in the
 12 creation of innovative products or services that provide job retention
 13 and expansion.
 14 (2) Definitions. For the purposes of this section, the following terms
 15 shall have the following meanings:
 16 (a) "Eligible recipient" shall mean small businesses as defined in
 17 section one hundred thirty-one of the economic development law.
 18 (b) "Eligible projects" for vouchers authorized pursuant to this
 19 section shall mean research and development projects leading to inno-
 20 vation of products or services. Eligible costs shall include, but not be
 21 limited to, the development of prototypes, field testing, engineering or
 22 other projects authorized by the corporation that enhance innovation of
 23 products or services that result in job growth and business expansion
 24 within the state.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00431-01-5

 A. 7663 2

 1 (c) "Ineligible expense" shall mean reimbursement of time spent by the
 2 employees or owners of the small business; grant or voucher application
 3 costs; routine and readily-predictable business expenses; design and
 4 production of marketing or advertising materials; basic professional
 5 services such as ongoing routine accounting, tax or legal services;
 6 building or equipment construction costs; financing fees; travel and
 7 entertainment costs; hospitality costs; and any other expenses deemed
 8 ineligible by the corporation.
 9 (d) "Research and development partner" shall mean colleges, universi-
 10 ties, state and national government laboratories, and public research
 11 institutes in New York state.
 12 (e) "Exceptionally innovative projects" shall mean projects that
 13 demonstrate a potential for substantial economic growth and job develop-
 14 ment in an emerging technology field, as defined by the corporation,
 15 through the promulgation of rules and regulations, as emerging technolo-
 16 gy fields from those fields listed in subparagraphs one, two, three,
 17 four and five of paragraph (b) of subdivision one of section thirty-one
 18 hundred two-e of the public authorities law.
 19 (3) Selection of eligibl