NY A02710

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

Study shall examine tax credits for small retailers, subsidized entrepreneur education programs, low-interest loan guarantees, equipment upgrade grants, and incentives for banking institutions to support small business growth.

Commissioner is directed to establish a small business owner and potential small business owner training pilot program, authorizing chambers of commerce and local business entities to submit proposals for commissioner approval, with three-year authorization terms.

Approved sponsors must report annually on program effectiveness and the commissioner shall provide evaluation reports to the governor and legislature on whether the pilot program should be expanded statewide.

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