Bill > S04942

This bill creates the New York State Innovative Energy and Environmental Technology Program, which will provide capital grants of up to $100,000 to small businesses (defined as having 100 or fewer employees, with 80% located in New York) to support the development and commercialization of innovative energy and environmental technologies. The grants will be awarded on a competitive basis, and the criteria for evaluation will include economic impact, the applicant's ability to leverage other funds, technical feasibility, and the likelihood of the technology improving public health, quality of life, the environment, or business performance. The bill requires the New York State Urban Development Corporation to submit an annual report on the effectiveness and accomplishments of the program.

Government Affairs

https://www.nysenate.gov/legislation/bills/2023/S4942