New York 2025-2026 Regular Session

New York Senate Bill S08434

Introduced
6/11/25  

Caption

Extends the reporting deadline of the advisory panel on employee-owned enterprises from June 30, 2025 to June 30, 2026; extends for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York state.

Impact

By extending the reporting deadline and the advisory panel’s operation, S08434 indicates a continued commitment from the state government to support employee-owned enterprises, which are crucial for fostering economic development and promoting inclusivity in business ownership. This potentially encourages innovation and stability in local economies by supporting new enterprises that are owned and operated by employees, thus reinforcing the state’s small business landscape.

Summary

Bill S08434 aims to amend the economic development law in New York by extending the reporting deadline for the advisory panel on employee-owned enterprises from June 30, 2025, to June 30, 2026. This panel is responsible for providing findings and recommendations on how to promote the formation and growth of new employee-owned enterprises within the state. The bill also extends the panel's existence by one additional year, allowing more time to fulfill its objectives and responsibilities.

Contention

While the bill does not seem to have generated notable contention publicly, the continuous focus on employee-owned enterprises may point to varying opinions regarding the best methods to support such businesses. Some stakeholders may argue for additional resources and funding for employee-ownership transitions, while others might emphasize the need for regulatory simplifications. The discussions around such points highlight the dynamic landscape in which small businesses operate and evolve.

Companion Bills

NY A08411

Same As Extends the reporting deadline of the advisory panel on employee-owned enterprises from June 30, 2025 to June 30, 2026; extends for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York state.

Previously Filed As

NY A09969

Extends the reporting deadline of the advisory panel on employee-owned enterprises from June 30, 2024 to June 30, 2025; extends for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York state.

NY S09777

Extends the reporting deadline of the advisory panel on employee-owned enterprises from June 30, 2024 to June 30, 2025; extends for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York state.

NY A07292

Extends the reporting deadline of the advisory panel on employee-owned enterprises from June 30, 2023 to June 30, 2024; further extends for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York state.

NY S07232

Extends the reporting deadline of the advisory panel on employee-owned enterprises from June 30, 2023 to June 30, 2024; further extends for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York state.

NY S08477

Directs the advisory panel on employee-owned enterprises to evaluate barriers to certification as MWBEs for employee-owned businesses and recommend strategies for continuation of certified business enterprises upon the transfer or sale of such business; extends the expiration date of the panel.

NY A10513

Directs the advisory panel on employee-owned enterprises to evaluate barriers to certification as MWBEs for employee-owned businesses and recommend strategies for continuation of certified business enterprises upon the transfer or sale of such business; extends the expiration date of the panel.

NY A03887

Requires that certain contracts let by the office of general services be reserved for small businesses, including minority-owned business enterprises and women-owned business enterprises.

NY A09081

Adds employee-owned enterprises and worker cooperatives to the list of preferred contractors for public contracts in the state; authorizes such enterprises and cooperatives to make certain purchases from centralized contracts for commodities, subject to conditions of the office of general services; authorizes the comptroller to conduct certain audits of employee-owned enterprises and worker cooperatives.

NY S08844

Adds employee-owned enterprises and worker cooperatives to the list of preferred contractors for public contracts in the state; authorizes such enterprises and cooperatives to make certain purchases from centralized contracts for commodities, subject to conditions of the office of general services; authorizes the comptroller to conduct certain audits of employee-owned enterprises and worker cooperatives.

NY S04455

Expands opportunities for veteran-owned business enterprises.

Similar Bills

No similar bills found.