NY S07939

Adds new duties to the Office for the Aging to cooperate with the Department of Economic Development in making recommendations to the governor and legislature on expanding encore entrepreneurship for individuals 50 years of age or older.

Requires the Director of the Office for the Aging and the President of Empire State Development to establish an advisory committee including economic development professionals, small business specialists, senior citizens organizations, and successful encore entrepreneurs.

Defines "encore entrepreneur" as a person 50 years of age or older starting a small business for the first time, and "small business" as an independently owned business in New York employing no more than 50 persons.

Requires the Department of Economic Development to create a program providing education and training for individuals 50 and older transitioning to encore entrepreneurship, addressing unique issues they face and disseminating relevant resources.

Takes effect 90 days after becoming law, with rule and regulation changes authorized for implementation on or before that date.