Bill > S00339

This bill establishes a state university-based center for employee ownership that will provide comprehensive support and resources to help business owners understand and implement employee ownership transitions. The center will offer education, outreach, and consulting services, including organizing workshops, preparing informational materials, providing initial consultations, and creating a referral service to help business owners explore transferring full or partial ownership to employees. Additionally, the bill modifies existing laws to expand support for employee-owned enterprises, including creating a new tax incentive that allows 100% capital gains tax exemption for stock or member interest sales to employee-owned enterprises in New York. The legislation recognizes the potential benefits of employee ownership, such as increased business productivity, job retention, and economic stability, and aims to facilitate these transitions by providing strategic support and financial incentives. The center will also conduct research, partner with professional organizations, and help businesses navigate government regulations related to employee ownership. The bill reflects a growing recognition of employee ownership as a mainstream economic strategy, with approximately 13.5 million workers participating in such programs across roughly 7,000 companies in the United States.

Budget and Finance, Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S339