NY S00205

Establishes the New York State Innovation Voucher Program under the Empire State Development Corporation to provide small businesses with access to research and development services from colleges, universities, government laboratories, and public research institutes.

Awards vouchers up to $10,000 per eligible project, with potential awards up to $50,000 for exceptionally innovative projects that demonstrate substantial economic growth and job development potential.

Requires eligible small business recipients to match the voucher value on a dollar-for-dollar basis and apply the matched funds to the funded project.

Mandates quarterly reports on voucher issuance, funding usage, recipient information, and success metrics including jobs created or retained, patents produced, and economic development impact.

Authorizes the Empire State Development Corporation to promulgate necessary rules and regulations within 180 days of the act's effective date, with the act taking effect 180 days after becoming law.