Bill > A07307

This bill would amend the New York State Urban Development Corporation Act to create the New York State Innovative Energy and Environmental Technology Program. The program would provide capital grants of up to $100,000 to small businesses (defined as those with 100 or fewer employees, 80% of whom are based in New York) to support the development and commercialization of innovative energy and environmental technologies. The grants would be awarded on a competitive basis, and the Corporation would develop criteria for evaluating applications, including the economic impact, ability to leverage other funds, technical feasibility, and likelihood of the technology to improve public health, the environment, or economic productivity. The Corporation would be required to submit annual reports on the effectiveness and accomplishments of the program.

Budget and Finance, Business and Industry

https://www.nysenate.gov/legislation/bills/2023/A7307