Relates to the establishment of a state university-based center for employee ownership; repealer

Latest action May 13, 2026

Relates to the establishment of a state university-based center for employee ownership that provides education and outreach to business owners regarding employee ownership.

Not chosen yet

Where it stands

Out of committee and scheduled for a vote by the full chamber.

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

New York State Senate

Amends the Economic Development Law.

Committee

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

Purpose, from the sponsor's memo

This bill provides several updates and revisions to current law to support the expansion of employee-owned enterprises or worker cooper- ative businesses.

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

Recorded votes

Vote: Committee vote · Commerce, Economic Development And Small Business
Senate Commerce, Economic Development And Small BusinessMay 13, 2026Result: passed
(9) (0) (0) (0)
Vote: Committee vote · Commerce, Economic Development And Small Business
Senate Commerce, Economic Development And Small BusinessMar 12, 2025Result: passed
(9) (0) (0) (0)

Cosponsors

Andrew Gounardes, James Sanders Jr. and 7 more on Agora

Democratic9

See the full list on nysenate.gov

The sponsor's argument

Why Jamaal Bailey says this is needed

Employee-owned businesses and worker cooperatives are a vital business sector that employs approximately 13.5 million workers across the coun- try at over approximately 7,000 companies. New York provides a modicum of support for such businesses, but several programs have become defunct and require new authorization and revision to properly support this growing segment of the state's economy. This legislation will help support the creation of new employee-owned businesses by focusing on support for succession planning, so that a business can continue when the owner retires or moves on by spinning the business off to a cooper- ative employee-owned enterprise.

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.

Full history

May 13, 2026
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate
Jan 7, 2026
Referred to committee
REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
NY Senate
Mar 12, 2025
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate
Jan 8, 2025
Referred to committee
REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 29, 2026. About our data

Read the record

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

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