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Bill

A 4722

Authorizes the power authority to create the New York State small business development program

2025 Regular Session Introduced by Gary Pretlow

Bill A 4722 empowers the New York Power Authority to launch a Small Business Development Program, aiding small businesses with resources, financing, and growth support.

REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
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Bill Summary · A 4722

Summary of Bill A 4722

Bill Overview

  • Bill Number: A 4722
  • Title: Authorizes the power authority to create the New York State small business development program
  • Status: Referred to Corporations, Authorities and Commissions
  • Introduced On: February 5, 2025
  • Classification: Bill

Purpose and Intent

Bill A 4722 aims to empower the New York State Power Authority (NYPA) to establish a Small Business Development Program. The primary intent of this program is to support small businesses across New York State by providing them with resources, guidance, and financial assistance to foster growth and sustainability.

Key Provisions

  • Creation of the Program: The bill authorizes NYPA to develop and implement a Small Business Development Program tailored to the needs of small businesses.
  • Support Services: The program is expected to offer a range of services, including:
    • Business planning assistance
    • Access to financing options
    • Technical support and training
    • Networking opportunities with other businesses and potential investors
  • Funding Mechanism: While specific funding details are not outlined in the bill, it is anticipated that the program will leverage existing NYPA resources and may seek additional funding through state budgets or federal grants.

Affected Parties

  • Small Businesses: The primary beneficiaries of this program will be small businesses operating within New York State, particularly those seeking to expand or improve their operations.
  • Local Economies: By supporting small businesses, the program aims to stimulate local economies, create jobs, and enhance community development.

Procedural Aspects

  • Current Status: As of the introduction date, the bill has been referred to the Corporations, Authorities and Commissions committee for further consideration.
  • Related Legislation:
    • A 9346: A related bill from a prior session, which may provide context or background for the current proposal.
    • S 6239: A companion bill in the Senate that may parallel the initiatives outlined in A 4722.

Conclusion

Bill A 4722 represents a significant step towards bolstering small businesses in New York State through the establishment of a dedicated development program. By empowering the NYPA to facilitate resources and support, the bill aims to enhance the viability and growth potential of small enterprises, ultimately benefiting the state's economy. The bill is currently under review, and its progress will be closely monitored as it moves through the legislative process.

Compiled from official sources — confirm details with the bill’s official record.

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