NY A08900

Creates the New York State Innovative Energy and Environmental Technology Program to award capital grants up to $100,000 to small businesses developing renewable energy, energy conservation, or environmental technologies with commercial potential.

Limits eligible recipients to independently owned small businesses headquartered and operating in New York with 100 or fewer employees (80% employed full-time in-state) developing innovative energy or environmental technologies.

Restricts grants to $100,000 per year maximum per business with only one grant per year allowed, covering working capital, equipment acquisition, or leasehold improvements necessary for product commercialization.

Requires applicants to submit detailed proposals including market assessments, technical value, job creation estimates, commercialization timelines, budgets, and justification for why the grant is essential and cannot be obtained elsewhere.

Mandates the urban development corporation to develop evaluation criteria in consultation with the New York State Energy Research and Development Authority and Department of Environmental Conservation, and submit annual reports to legislative leadership on program effectiveness and recipient information.