NY A08179

Creates an advisory panel within the Department of Economic Development consisting of twelve members, including three state commissioners (or designees) and nine appointed members representing employee-owned enterprises, business development organizations, educational institutions, lending organizations, and labor groups.

Defines "employee-owned enterprise" as a business where employees control the majority of voting stock or where trustees are elected by employees, including worker cooperatives under cooperative corporations law.

Requires the advisory panel to identify strategies for creating and developing employee-owned enterprises, evaluate existing state training programs, examine relevant laws and regulations, and assess capital access for these enterprises.

Mandates the advisory panel to issue a report by September 30, 2018 to legislative leaders and relevant committee chairs outlining findings and recommendations, including a publicly available guide for best practices in forming employee-owned enterprises.

Sunsets the advisory panel on October 1, 2018 unless extended by subsequent legislation.