Senate bill · S8434 (2025-26)

Extends the reporting deadline of the advisory panel on employee-owned enterprises to 2026

Latest action Jun 18, 2025

Extends the reporting deadline of the advisory panel on employee-owned enterprises from June 30, 2025 to June 30, 2026; 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.

Not chosen yet

Where it stands

Signed into law.

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

New York State Senate

Same as A8411, the matching bill in the Assembly.

Passed as A8411, the matching Assembly bill.

Amends the Economic Development Law.

Committee

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

Also referred to Rules · New York State Assembly, Rules · New York State Senate.

Purpose, from the sponsor's memo

The purpose of this legislation is to extend the reporting deadline for the advisory panel on employee-owned enterprises to June 30, 2026. 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)

Recorded votes

Vote: Committee vote · Rules
Senate RulesJun 12, 2025Result: passed
(20) (0) (0) (1)
Vote: Floor vote
NY SenateJun 12, 2025Result: passedSenate vote on A8411, the matching Assembly bill.
(59) (0) (0) (4)

The sponsor's argument

Why the sponsor 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 have to 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.

Full history

Jun 18, 2025
Sent to the executive
DELIVERED TO GOVERNOR
NY Assembly
Jun 18, 2025
Signed
SIGNED CHAP.145
NY Assembly
Jun 12, 2025
3RD Reading CAL.1954
3RD READING CAL.1954
NY Senate
Jun 12, 2025
Passed a chamber
PASSED SENATE
NY Senate
Jun 12, 2025
Substituted
SUBSTITUTED FOR S8434
NY Senate

Show full history (8 earlier events)

Jun 11, 2025
Referred to committee
REFERRED TO RULES
NY Senate
May 21, 2025
Sent to the executive
DELIVERED TO SENATE
NY Assembly
May 21, 2025
Passed a chamber
PASSED ASSEMBLY
NY Assembly
May 21, 2025
Referred to committee
REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS
NY Senate
May 21, 2025
Reported out of committee
REPORTED
NY Assembly
May 21, 2025
Rules Report CAL.248
RULES REPORT CAL.248
NY Assembly
May 20, 2025
Reported out of committee
REPORTED REFERRED TO RULES
NY Assembly
May 14, 2025
Referred to committee
REFERRED TO ECONOMIC DEVELOPMENT
NY Assembly

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.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 22, 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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