Bill Text: NY A07307 | 2023-2024 | General Assembly | Amended
Bill Title: Provides small businesses with grants of up to $100,000 to commercialize energy and environmental technology innovations and ideas in-state to stimulate economic development.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced) 2024-05-31 - print number 7307a [A07307 Detail]
Download: New_York-2023-A07307-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 7307--A 2023-2024 Regular Sessions IN ASSEMBLY May 17, 2023 ___________ Introduced by M. of A. SOLAGES, SAYEGH, TAYLOR, REYES, STIRPE, DE LOS SANTOS -- read once and referred to the Committee on Small Business -- recommitted to the Committee on Small Business in accord- ance with Assembly Rule 3, sec. 2 -- reported and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the New York state urban development corporation act, in relation to creating the New York state innovative energy and environ- mental technology program The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Legislative intent. The legislature hereby finds and 2 declares that the success of innovative energy and environmental tech- 3 nology-oriented businesses with growth potential is essential to the 4 continued economic health and security of New York state. It is further 5 found that the development of new products to assist mature industries 6 undergoing dramatic changes or facing increasing international competi- 7 tion with reducing energy costs and complying with environmental regu- 8 lations, can serve to retain, and even increase, employment. However, 9 commercialization of these products is restrained as numerous small 10 businesses are limited by lack of early stage financing. 11 Therefore, the legislature seeks to provide early stage funds, via a 12 grants program, to stimulate the creation of a substantial number of new 13 businesses and jobs in the energy and environmental sectors of New 14 York's economy. 15 § 2. Section 1 of chapter 174 of the laws of 1968, constituting the 16 New York state urban development corporation act, is amended by adding a 17 new section 16-bb to read as follows: 18 § 16-bb. New York state innovative energy and environmental technology 19 program. 1. Definitions. As used in this section, the following words 20 and terms shall have the following meanings: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06481-04-4A. 7307--A 2 1 (a) "Innovative energy technologies" shall mean all methods used to 2 produce, distribute, conserve and store energy by methods which have 3 significant potential for commercialization, with emphasis on renewable 4 energy sources including, but not limited to, solar, wind, fuel cells, 5 advanced hydroelectric, and biomass power conversion technologies. 6 (b) "Innovative environmental technologies" shall mean technologies 7 that advance sustainable development by reducing risk, enhancing cost- 8 effectiveness, improving process efficiency, and creating products and 9 processes that are environmentally beneficial or benign and which have 10 significant potential for commercialization. Emerging environmental 11 technologies include, but are not limited to: air, water, and soil 12 pollution control; solid and toxic waste management; site remediation; 13 and environmental monitoring and recycling. 14 (c) "Small businesses" shall mean an independently owned and operated 15 business that meets all of the following conditions: (i) headquartered 16 in the state, and principal business operations located in the state; 17 (ii) employs one hundred or less persons, eighty percent of whom are 18 employed within the state on a full-time basis; and (iii) involved in 19 developing innovative energy and environmental technologies. 20 (d) "Eligible costs" shall mean costs associated with working capital 21 needs, the acquisition or upgrading of equipment, or leasehold improve- 22 ments necessary for commercialization of the product, device, technique, 23 system or process; provided that no other source of funds is available 24 under terms, interest rates, or other conditions that would allow the 25 project to proceed successfully. Eligible costs shall exclude any costs 26 incurred prior to the effective date of this section. 27 2. The corporation is authorized, within available appropriations in 28 the empire state economic development fund established pursuant to 29 section 16-m of this act or from any other funds appropriated for the 30 purpose set out in this section, to award capital grants of up to one 31 hundred thousand dollars to small businesses, for the purpose of encour- 32 aging and supporting innovative energy and environmental technology 33 development and commercialization across the state. Such grants shall be 34 awarded on a competitive basis to small business applicants responding 35 to requests for proposals issued by the corporation. 36 3. Grants and contracts made by the corporation pursuant to this 37 section shall be subject to the following: 38 (a) grants shall not exceed one hundred fifty thousand dollars per 39 year; 40 (b) the corporation may not enter into more than one grant per year to 41 a small business; and 42 (c) grants provided by the corporation may only be used for eligible 43 costs. 44 4. Applications for grants authorized under this section shall 45 describe the product, device, technique, system or process which is to 46 be developed, including: 47 (a) a market assessment; 48 (b) an explanation of its technical value; 49 (c) measurable outcomes resulting from its manufacture and sale, 50 including the estimated number of jobs to be created and retained and 51 the salary levels of such jobs; 52 (d) an estimated timeline for bringing it to market, with proposed 53 starting and completion dates and benchmarks; and 54 (e) a budget for its development and marketing that describes how the 55 grant will be used, why the grant from the corporation is essential andA. 7307--A 3 1 cannot be obtained from other sources, and sources and amounts of other 2 funds to be used in its development, marketing and distribution. 3 5. The corporation shall, in consultation with the New York state 4 energy research and development authority and the department of environ- 5 mental conservation, develop criteria to be used in evaluating grant 6 applications. Such criteria shall include, but not be limited to: 7 (a) economic impact as measured by such variables as potential reven- 8 ue, job creation, effect on the local economy, global competitiveness, 9 and, purchases from in-state suppliers; 10 (b) ability of the applicant to leverage other funds; 11 (c) financial commitment of the applicant; 12 (d) technical feasibility; 13 (e) likelihood that the economic benefits will be manifest within a 14 six- to twelve-month period, but at most within three years; and 15 (f) likelihood of the product, device, technique, system or process to 16 result in improvements to public health, quality of life, the environ- 17 ment, human or business performance or economic productivity. 18 6. The corporation shall, on or before September first, two thousand 19 twenty-four and annually thereafter, submit a report to the governor, 20 the temporary president of the senate and the senate minority leader, 21 the speaker of the assembly, and the minority leader of the assembly, 22 the chairpersons of the senate finance committee and the assembly ways 23 and means committee, and to any other member of the legislature request- 24 ing such reports on the effectiveness and accomplishments of the New 25 York state innovative energy and environmental technology grants 26 program. Such report shall include for each grant awarded, the name and 27 location of the recipient, a description of the product, device, tech- 28 nique, system or process being commercialized, the amount and use of the 29 grant, the total project cost, the impact of the project on the recipi- 30 ent's business, the number of jobs created or retained, and such other 31 information as the corporation shall deem appropriate. 32 7. Nothing in this section shall require the corporation to disclose 33 any matters involving confidential intellectual property or work prod- 34 uct, whether patentable or not, including any formula, plan, pattern, 35 process, tool, mechanism, compound, procedure, production data or compi- 36 lation of information, which is not patented, but which is known only to 37 certain individuals who are using it to fabricate, produce or compound 38 an article of trade or service having commercial value and which gives 39 its user an opportunity to obtain a business advantage over competitors 40 who do not know it or use it. 41 § 3. This act shall take effect immediately.
