Senate bill · S10575 (2025-26)

Extends the reporting deadline of the advisory panel on employee-owned enterprises to 2027

New York State Senate

Same as A10851, the matching bill in the Assembly.

Latest action Jun 26, 2026

Passed as A10851, the matching Assembly bill.

Sponsor: April Baskin (State Senator, District 63, Democratic)

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From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 23, 2026. About our data

Summary

Extends the reporting deadline of the advisory panel on employee-owned enterprises from June 30, 2026 to June 30, 2027; extends for one year the advisory panel on employee-owned enterprises which is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York state.

Summary from NY Open Legislation. How we handle summaries

Amends the Economic Development Law.

Purpose, from the sponsor's memo

This legislation would extend the reporting deadline for the advisory panel on employee-owned enterprises to June 30, 2027. The advisory panel is tasked with reporting and making recommendations on how best to support such businesses and promote the formation and growth of new employee-owned enterprises in New York State.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Where it stands

Signed into law.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

Committee

Commerce, Economic Development And Small Business · New York State Senate

Your position on this bill

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The sponsor's argument

Why April Baskin says this is needed

Employee-owned enterprises provide stability and staying power for local jobs and are far less likely to move out of state, or even out of the local region, because of the roots the employees of these enterprises have in the areas they work and live. Studies have found that wages, sales, productivity, and retirement plans for employee-owned enterprises are higher than those of comparable, privately owned corporations. As an increasing number of small business owners reach retirement, many employees fear they may lose their job or must relocate when a small business owner retires and sells their company.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Recorded votes

Vote: Committee vote · Rules
Senate RulesJun 2, 2026Result: passed
(20) (0) (0) (1)
Vote: Floor vote
NY SenateJun 2, 2026Result: passedSenate vote on A10851, the matching Assembly bill.
(61) (0) (0) (2)

Full history

Jun 26, 2026
Signed
SIGNED CHAP.143
NY Assembly
Jun 18, 2026
Sent to the executive
DELIVERED TO GOVERNOR
NY Assembly
Jun 2, 2026
3RD Reading CAL.1592
3RD READING CAL.1592
NY Senate
Jun 2, 2026
In committee
COMMITTEE DISCHARGED AND COMMITTED TO RULES
NY Senate
Jun 2, 2026
Passed a chamber
PASSED SENATE
NY Senate

Show full history (8 earlier events)

Jun 2, 2026
Substituted
SUBSTITUTED FOR S10575
NY Senate
May 26, 2026
Referred to committee
REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
NY Senate
Apr 28, 2026
Sent to the executive
DELIVERED TO SENATE
NY Assembly
Apr 28, 2026
Passed a chamber
PASSED ASSEMBLY
NY Assembly
Apr 28, 2026
Referred to committee
REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
NY Senate
Apr 23, 2026
Advanced to Third Reading CAL.386
ADVANCED TO THIRD READING CAL.386
NY Assembly
Apr 21, 2026
Reported out of committee
REPORTED
NY Assembly
Apr 7, 2026
Referred to committee
REFERRED TO ECONOMIC DEVELOPMENT
NY Assembly

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.