NY A10099

Adds new authority for the New York State Urban Development Corporation to provide financing assistance (loans, loan guarantees, and interest subsidy grants) to facilitate creation of worker cooperatives from micro-businesses during ownership transfers.

Defines a micro-business as a business with five or fewer full-time or full-time equivalent employees.

Allows financing assistance when a business is being offered for sale or transferred by the current owner or the heirs/estate of a deceased owner, either as part of a preexisting succession plan or as an alternative option.

Requires all eligible entities requesting assistance to submit a business plan with their application.

Establishes that the Department of Economic Development shall coordinate with the Job Development Authority, Office for New Americans, and Empire State Development Corporation to administer the program.