S10575 • 2025

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

Labor

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: April Baskin
Last action: 2026-06-02
Official status: Senate Floor Calendar
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

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

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

What This Bill Does

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

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

2026-06-02 Senate
COMMITTEE DISCHARGED AND COMMITTED TO RULES
2026-06-02 Senate
ORDERED TO THIRD READING CAL.1592
2026-06-02 Senate
SUBSTITUTED BY A10851
2026-05-26 Senate
REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS

Official Summary Text

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

Current Bill Text

Read the full stored bill text

S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          10575

                                    I N  S E N A T E

                                      May 26, 2026
                                       ___________

        Introduced  by  Sen.  BASKIN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Commerce, Economic  Devel-
          opment and Small Business

        AN  ACT  to amend the economic development law, in relation to extending
          the reporting deadline of the advisory panel on employee-owned  enter-
          prises;  and  to  amend  chapter  435 of the laws of 2017 amending the
          economic development law relating to establishing an advisory panel on
          employee-owned enterprises  within  the  division  of  small  business
          services, in relation to the effectiveness thereof

          THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section 1. Subdivision 5 of section 139 of  the  economic  development
     2  law,  as  amended by chapter 145 of the laws of 2025, is amended to read
     3  as follows:
     4    5. Reporting. The advisory panel shall issue a report  no  later  than
     5  June  thirtieth,  two  thousand  [twenty-six] TWENTY-SEVEN outlining the
     6  findings and recommendations of the panel. The report shall be delivered
     7  to the governor, the speaker of the assembly, the temporary president of
     8  the senate, the minority leader of the assembly, the minority leader  of
     9  the  senate,  the chair of the assembly committee on ways and means, the
    10  chair of the senate committee on finance,  the  chair  of  the  assembly
    11  committee  on  economic development, the chair of the assembly committee
    12  on small business, the  chair  of  the  senate  committee  on  commerce,
    13  economic  development,  and  small  business,  the chair of the assembly
    14  committee on labor, and the chair of the senate committee on labor.
    15    § 2. Section 2 of chapter 435 of the laws of 2017 amending the econom-
    16  ic development law relating to establishing an advisory panel on employ-
    17  ee-owned enterprises within the division of small business services,  as
    18  amended  by  chapter  145  of  the  laws  of 2025, is amended to read as
    19  follows:
    20    § 2. This act shall take effect immediately and shall  expire  October
    21  1,  [2026]  2027 when upon such date the provisions of this act shall be
    22  deemed repealed.

         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15059-01-6
        S. 10575                            2

     1    § 3. This act shall take effect immediately; provided that the  amend-
     2  ments  to  subdivision  5 of section 139 of the economic development law
     3  made by section one of this act shall not  affect  the  repeal  of  such
     4  section and shall be deemed repealed therewith.