Bill > A06461

This bill amends the New York State Economic Development Law to explicitly recognize and support distributed ledger technology (DLT), which is a type of digital database technology (like blockchain) that securely records and synchronizes transactions across multiple computers or networks. The bill adds DLT to definitions of "financial services data centers" and "software development," thereby expanding the scope of industries that can potentially benefit from economic development programs. Additionally, the bill requires the commissioner of economic development to promote broad geographic participation in these programs and to actively seek diversity in business ownership, specifically targeting businesses owned by people with disabilities, minority and women-owned businesses, and veteran-owned businesses. The goal is to ensure that emerging technology sectors like distributed ledger technology are supported and that economic development opportunities are accessible to a wide range of entrepreneurs and businesses. The changes will take effect immediately upon enactment.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A6461