NY A00959

Department of Economic Development must conduct a comprehensive study on retaining small retail businesses in New York and submit findings and recommendations to the governor and legislature within one year.

Study shall examine economic feasibility of grants to communities for retail business retention, subsidized entrepreneur education programs, tax credits for small retailers, guaranteed low-interest loans, equipment upgrade grants, and small business incentive programs.

Commissioner is authorized to establish a pilot training program for small business owners and prospective owners through chambers of commerce and local business entities, with programs approved by the commissioner for three-year terms.

Sponsors must submit proposals describing the target business population, training methods, costs, expected benefits, and effectiveness measurement; commissioner must report annually to the governor and legislature on program effectiveness and expansion recommendations.

Appropriates $210,000 from the state general fund to the Department of Economic Development, with no more than 15 percent available for departmental expenses.