New York A 981: Directs the department of economic development to study methods for keeping small retail businesses within the state and creates pilot program; appropriation

Bill Text

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A00981 Summary:

BILL NOA00981 

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SAME ASNo Same As

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SPONSORAngelino

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COSPNSRBendett, Brabenec, DeStefano, Lemondes, Manktelow, McDonough, Miller, Pirozzolo, Blankenbush

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MLTSPNSR

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Add §139-a, Ec Dev L

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Directs the department of economic development to study methods for keeping small retail businesses within the state and create a pilot program to train and counsel small business owners and potential small business owners; appropriates $210,000 therefor.

Go to top A00981 Actions:

BILL NOA00981 

&nbsp

01/08/2025referred to small business

05/20/2025held for consideration in small business

01/07/2026referred to small business

Go to topA00981 Committee&nbspVotes:

Committee:SMALL BUSINESS Chair:Buttenschon 
DATE:05/20/2025AYE/NAY:12/5 Action: Held for Consideration ButtenschonAyeNorberNay

JonesAyeBrownNay

GallagherAyeBendettNay

JacksonAyeNovakhovNay

ClarkAyeGallahanNay

RajkumarAye

De Los SantosAye

Chandler-WatermAye

ZaccaroAye

DaisAye

KassayAye

YegerAye

Go to topA00981 Floor&nbspVotes:

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

Go to topA00981 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 981

 2025-2026 Regular Sessions

 IN ASSEMBLY

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by M. of A. ANGELINO, BENDETT, BRABENEC, DeSTEFANO, LEMONDES,
 MANKTELOW, McDONOUGH, MILLER -- read once and referred to the Commit-
 tee on Small Business

 AN ACT to amend the economic development law, in relation to directing
 the department of economic development to study the attrition of small
 retail businesses from the state and create a pilot program to help
 maintain the existence of small businesses within the state and to
 train and counsel small business owners and potential small business
 owners; and making an appropriation therefor

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

 1 Section 1. Legislative findings. The legislature finds that the number
 2 of small businesses located within the boundaries of the state is
 3 decreasing at a rapid pace. In today's market place, the small business
 4 owner struggles to compete with the large corporate chain stores. The
 5 legislature further finds that the existence of these small businesses
 6 within the state is crucial toward the strengthening of the state's
 7 economy. Therefore, it is imperative that steps be taken to help ensure
 8 the future existence and stability of these small businesses.
 9 § 2. The department of economic development is hereby directed to
 10 conduct a comprehensive study relating to the ability to retain small
 11 retail businesses within the state and is further directed to make
 12 recommendations in accordance with its findings. Such study shall
 13 include, but not be limited to:
 14 1. The economic feasibility to grant money to communities to establish
 15 small retail business retention and development plans.
 16 2. The possibility of subsidizing, either in whole or in part, retail
 17 entrepreneur education programs for small business owners throughout the
 18 state.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02696-01-5

 A. 981 2

 1 3. The use of tax credits, both income and property, for small retail
 2 business owners to lessen their financial burden and to help them
 3 compete with the highly funded corporation.
 4 4. The possibility of implementing legislation guaranteeing loans to
 5 small retail business owners at a low, fixed interest rate.
 6 5. The economic feasibility to grant money to small retail business
 7 owners for the upgrade of certain equipment.
 8 6. The ability to create a small business incentive program. Such
 9 program would:
 10 a. require small retail business owners participating in the program
 11 to commit to a five year program consisting of entrepreneur education
 12 classes, management training, and consultations with financial advisors.
 13 b. be devised so as to create incentives for banking institutions to
 14 participate in the growth and production of new and existing small
 15 retail businesses.
 16 § 3. A report of the findings of such study, recommendations, and any
 17 proposed legisla