NY A08417

Amends the Economic Development Law to add a new duty requiring the Division for Small Business to study and evaluate the establishment of new financial products derived from existing state resources

Requires examination of aggregating and selling loan guarantees from various state loans and grant programs for small businesses in emerging domestic markets

Directs the Division to seek advice from foundation, not-for-profit, finance and investment communities to enhance market acceptance of any new financial products established

Mandates annual reporting to the Governor and Legislature on or before February 1st regarding findings and recommendations

Defines "emerging domestic market" to include ethnic- and women-owned firms, urban and rural communities, companies serving low-to-moderate-income populations, and other small- and medium-sized businesses facing capital constraints