NY S04410

Requires the Department of Economic Development, Job Development Authority, and Urban Development Corporation to give preference to small businesses and entrepreneurs in awarding state economic development assistance funds across all programs administered with appropriated funds.

Preference methods must include active marketing of programs to small businesses and entrepreneurs, providing assistance to access available funds, and establishing a goal to award twenty percent of available program funds to small businesses and entrepreneurs.

Defines "entrepreneur" as a person who organizes, operates, and assumes the risk of a start-up business venture; references existing definition of "small business" in Economic Development Law Section 131.

Requires each agency to report annually on activities, proposals receiving financial assistance under this section, and whether the twenty percent funding goal was met for each program.

Takes effect immediately upon enactment.