New York S 6051: Relates to expanding employee ownership assistance for lesbian, gay, bisexual, transgender and non-binary individuals

Bill Text

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S06051 Summary:

BILL NOS06051 

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SAME ASSAME AS A04075

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SPONSORPARKER

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COSPNSR

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MLTSPNSR

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Amd §§1836-a, 1836-c & 1836-d, Pub Auth L; amd §§104-a & 210, Ec Dev L

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Relates to expanding employee ownership assistance for lesbian, gay, bisexual, transgender and non-binary individuals.

Go to top S06051 Actions:

BILL NOS06051 

&nbsp

03/05/2025REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS

01/07/2026REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS

Go to topS06051 Committee&nbspVotes:

Go to topS06051 Floor&nbspVotes:

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

Go to topS06051 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6051

 2025-2026 Regular Sessions

 IN SENATE

 March 5, 2025
 ___________

 Introduced by Sen. PARKER -- read twice and ordered printed, and when
 printed to be committed to the Committee on Commerce, Economic Devel-
 opment and Small Business

 AN ACT to amend the public authorities law and the economic development
 law, in relation to expanding employee ownership assistance for lesbi-
 an, gay, bisexual, transgender 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 their relocation out of
 8 state, which results in the loss of jobs and increasing unemployment.
 9 It is the purpose of this subtitle to encourage [the] employees of
 10 plants that are about to be permanently closed, or relocated, to acquire
 11 such plants and businesses and to continue to operate them as employee-
 12 owned enterprises, thereby retaining the jobs that would otherwise be
 13 lost, and strengthening the economic base of this state.
 14 § 2. 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 § 3. 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:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02330-01-5

 S. 6051 2

 1 1. have a membership consisting of a majority of minority, lesbian,
 2 gay, bisexual, transgender, or non-binary members;
 3 2. have a higher level of funding from the funding partners;
 4 [2.] 3. have the most direct impact on local economic development and
 5 the creation or retention of employment opportunities;
 6 [3.] 4. are most likely to stimulate other private sector investments;
 7 and
 8 [4.] 5. are least speculative, and provide greatest assurance of
 9 repayment of the loan.
 10 § 4. Subdivision 7 of section 104-a of the economic development law,
 11 as added by chapter 788 of the laws of 1983, is amended to read as
 12 follows:
 13 7. Identify [industrial and manufacturing] businesses that are in
 14 danger of being permanently closed or relocated out of state, which
 15 results in the loss of jobs and increasing unemployment, and assist the
 16 businesses and employees of such businesses by distributing information
 17 about the provisions of this section.
 18 § 5. Subdivisions 3 and 4 of section 210 of the economic development
 19 law, as amended by chapter 669 of the laws of 2022, are amended to read
 20 as follows:
 21 3. "Minority business enterprise" shall mean any business enterprise
 22 which is at least fifty-one per centum owned by, or in the case of a
 23 publicly owned business at least fifty-one per centum of the stock of
 24 which is owned