Bill > S08434

This bill extends the deadline for an existing advisory panel on employee-owned enterprises by one year, specifically moving the required reporting date from June 30, 2025, to June 30, 2026. The advisory panel, which is part of the New York state division of small business services, is responsible for investigating and making recommendations about how to support and promote employee-owned businesses in the state. The bill amends two sections of existing law: first, it updates the reporting deadline in the economic development law, and second, it extends the overall effectiveness of the advisory panel's enabling legislation until October 1, 2026. The panel is required to deliver its comprehensive report to numerous state officials, including the governor, legislative leaders, and chairs of various committees related to economic development, small business, and labor. By extending the deadline, the state provides the panel with additional time to complete its research and develop thorough recommendations for supporting employee-owned enterprises.

https://www.nysenate.gov/legislation/bills/2025/S8434