NY A02261

Creates the New York State Innovative Energy and Environmental Technology Program to award capital grants of up to $100,000 per year to eligible small businesses developing renewable energy and environmental technologies.

Defines eligible small businesses as independently owned New York state-based companies with 100 or fewer employees (80% employed in-state full-time) focused on innovative energy or environmental technology commercialization.

Grants support working capital, equipment acquisition, and leasehold improvements necessary for commercializing products in areas including solar, wind, fuel cells, biomass, pollution control, waste management, and site remediation.

Requires grant applications to include market assessments, technical value explanations, job creation estimates, timelines to market, and budgets demonstrating why corporation funding is essential and cannot be obtained elsewhere.

Mandates the corporation consult with the New York State Energy Research and Development Authority and Department of Environmental Conservation to develop evaluation criteria based on economic impact, ability to leverage other funds, technical feasibility, and likelihood of public health or environmental benefits within three years.