2023 New York Laws › COM - Economic Development Law › Article 18* - Division of Science, Technology and Innovation › 360 - Division of Science, Technology and Innovation.

§  360.  Division  of  science, technology and innovation. 1. Economic
  development  efficiency.  In  order  to  promote  economic   development
  efficiency  in  the state of New York, the transfer of powers, functions
  and affairs of the New York state foundation for science, technology and
  innovation is hereby authorized and there is hereby created  within  the
  department   the   division   of  science,  technology  and  innovation.
  Notwithstanding the foregoing, the small business technology  investment
  fund  and  cash  assets  of  the  New York state foundation for science,
  technology and innovation shall be transferred to the urban  development
  corporation pursuant to subdivision twelve of this section.
2.  Transfer  of  powers of the New York state foundation for science,
  technology and innovation. The functions and powers possessed by and all
  of the obligations and duties of  the  New  York  state  foundation  for
  science,  technology  and innovation, as established pursuant to article
  ten-A of the public authorities law and article ten-B of  the  executive
  law, with the exception of the small business technology investment fund
  and cash assets of the New York state foundation for science, technology
  and  innovation shall be transferred and assigned to, and assumed by and
  devolved  upon,  the  department.  Notwithstanding  the  foregoing,  any
  programs  specified  in  law  to  be  administered by the New York state
  foundation for science, technology and innovation shall be  administered
  by the department only to the extent of available appropriations.
3.  Abolition of the New York state foundation for science, technology
  and innovation. Upon the  transfer  pursuant  to  subdivisions  two  and
  twelve  of this section of the functions and powers possessed by and all
  of the obligations and duties of  the  New  York  state  foundation  for
  science,  technology  and innovation, as established pursuant to article
  ten-A of the public authorities law and article ten-B of  the  executive
  law,   the  New  York  state  foundation  for  science,  technology  and
  innovation shall be abolished.
3-a. Notwithstanding any other provision of law, rule,  or  regulation
  to  the contrary, upon the transfer of functions from the New York state
  foundation for science,  technology  and  innovation  pursuant  to  this
  section,  employees  of  the  New  York  state  foundation  for science,
  technology and innovation, as determined by the commissioner in  his  or
  her discretion, who are necessary to the continuation of the transferred
  functions   and   substantially   engaged  in  the  performance  of  the
  transferred functions shall be transferred to the department.  Employees
  transferred  pursuant  to  this  section  shall  be  transferred without
  further examination or qualification and shall retain  their  respective
  civil service classifications or the equivalent thereof.
4.  Continuity  of  authority  of  the  New  York state foundation for
  science, technology and innovation. Except as herein otherwise provided,
  upon the transfer pursuant  to  subdivisions  two  and  twelve  of  this
  section  of  the  functions  and  powers  possessed  by  and  all of the
  obligations and duties of the New York  state  foundation  for  science,
  technology  and innovation as established pursuant to such provisions of
  the executive law and the public authorities law to  the  department  as
  prescribed  by  subdivision  two  of  this  section  and  to  the  urban
  development corporation pursuant to subdivision twelve of  this  section
  for  the  purpose  of  succession  of  all functions, powers, duties and
  obligations of the New York state foundation for science, technology and
  innovation, the department and the  urban  development  corporation,  as
  appropriate   shall   be  deemed  to  and  be  held  to  constitute  the
  continuation of such functions, powers, duties and obligations and not a
  different agency or authority.
5. Transfer of records of the New York state foundation  for  science,
  technology  and  innovation.  Upon the transfer pursuant to subdivisions

  two and twelve of this section of the functions and powers possessed  by
  and  all  of the obligations and duties of the New York state foundation
  for science, technology and innovation as established pursuant  to  such
  provisions  of  the  executive law and the public authorities law to the
  department as prescribed by subdivision two of this section and  to  the
  urban  development  corporation  pursuant  to subdivision twelve of this
  section, all books, papers, records and property pertaining to  the  New
  York  state  foundation  for science, technology and innovation shall be
  transferred  to  and  maintained  by  the  department  and   the   urban
  development corporation, as appropriate.
6.  Completion of unfinished business of the New York state foundation
  for science, technology and innovation. Upon the  transfer  pursuant  to
  subdivisions  two and twelve of this section of the functions and powers
  possessed by and all of the obligations and duties of the New York state
  foundation  for  science,  technology  and  innovation  as   established
  pursuant  to  such  provisions  of  the  executive  law  and  the public
  authorities law to the department as prescribed by  subdivision  two  of
  this  section  and  to  the  urban  development  corporation pursuant to
  subdivision twelve  of  this  section,  any  business  or  other  matter
  undertaken  or  commenced  by the New York state foundation for science,
  technology and innovation pertaining to or connected with the functions,
  powers, obligations and  duties  so  transferred  and  assigned  to  the
  department may be conducted or completed by the department and the urban
  development corporation, as appropriate.
7.  Terms  occurring  in  laws,  contracts  or  other  documents of or
  pertaining to the New York state foundation for science, technology  and
  innovation. Upon the transfer pursuant to subdivisions two and twelve of
  this  section  of  the  functions and powers possessed by and all of the
  obligations and duties of the New York  state  foundation  for  science,
  technology  and innovation as established pursuant to such provisions of
  the executive law and the public authorities law, whenever the New  York
  state   foundation  for  science,  technology  and  innovation  and  the
  executive director  thereof,  the  functions,  powers,  obligations  and
  duties  of  which  are  transferred  to  the  department  and  the urban
  development corporation are  referred  to  or  designated  in  any  law,
  contract  or  document  pertaining to the functions, powers, obligations
  and duties transferred and  assigned  pursuant  to  this  section,  such
  reference  or designation shall be deemed to refer to the department and
  its commissioner or the urban development corporation and its  president
  and chief executive officer, as appropriate, or his or her designee.
8. Existing rights and remedies of or pertaining to the New York state
  foundation  for  science,  technology and innovation preserved. Upon the
  transfer pursuant to subdivisions two and twelve of this section of  the
  functions  and powers possessed by and all of the obligations and duties
  of the New York state foundation for science, technology and  innovation
  as  established pursuant to the executive law and the public authorities
  law to the department as prescribed by subdivision two of  this  section
  and  to the urban development corporation pursuant to subdivision twelve
  of this section, no existing right or remedy of the state, including the
  New York state foundation for science, technology and innovation,  shall
  be lost, impaired or affected by reason of this section.
9.  Pending  actions  and proceedings of or pertaining to the New York
  state foundation  for  science,  technology  and  innovation.  Upon  the
  transfer  pursuant to subdivisions two and twelve of this section of the
  functions and powers possessed by and all of the obligations and  duties
  of  the New York state foundation for science, technology and innovation
  as established pursuant to such provisions of the executive law and  the
  public  authorities  law  transfer  to  the  department as prescribed by

  subdivision two of this section and to the urban development corporation
  pursuant to subdivision twelve of this section, no action or  proceeding
  pending on the effective date of this section, brought by or against the
  New  York  state  foundation  for  science, technology and innovation or
  executive director thereof shall be affected by any  provision  of  this
  section,  but  the same may be prosecuted or defended in the name of the
  department or the urban development corporation, as appropriate. In  all
  such  actions  and proceedings, the department and the urban development
  corporation, as appropriate, upon application to  the  court,  shall  be
  substituted as a party.
10.  Continuation of rules and regulations of or pertaining to the New
  York state foundation for science, technology and innovation.  Upon  the
  transfer  pursuant to subdivisions two and twelve of this section of the
  functions and powers possessed by and all the obligations and duties  of
  the  New York state foundation for science, technology and innovation as
  established pursuant to such provisions of the  executive  law  and  the
  public  authorities  law  transfer  to  the  department as prescribed by
  subdivision two of this section and to the urban development corporation
  pursuant to subdivision twelve of this section, all rules,  regulations,
  acts,  determinations and decisions of the New York state foundation for
  science,  technology  and  innovation,  pertaining  to   the   functions
  transferred and assigned by this section to the department and the urban
  development  corporation,  as  appropriate, in force at the time of such
  transfer, assignment, assumption and devolution shall continue in  force
  and  effect as rules, regulations, acts, determinations and decisions of
  the department and the urban development  corporation,  as  appropriate,
  until duly modified or repealed.
11.  Transfer  of appropriations heretofore made to the New York state
  foundation for science, technology and  innovation.  Upon  the  transfer
  pursuant to subdivisions two and twelve of this section of the functions
  and powers possessed by and all of the obligations and duties of the New
  York   state  foundation  for  science,  technology  and  innovation  as
  established pursuant to such provisions of the  executive  law  and  the
  public  authorities  law  to the department as prescribed by subdivision
  two of this section and to the urban development corporation pursuant to
  subdivision   twelve   of   this   section,   all   appropriations   and
  reappropriations  which shall have been made available as of the date of
  such transfer to the New York state foundation for  science,  technology
  and innovation or segregated pursuant to law, to the extent of remaining
  unexpended  or  unencumbered  balances  thereof,  whether  allocated  or
  unallocated and whether obligated or unobligated, shall  be  transferred
  to  and  made available for use and expenditure by the department or the
  urban development corporation as deemed appropriate by the  commissioner
  and   shall  be  payable  on  vouchers  certified  or  approved  by  the
  commissioner of taxation and  finance,  on  audit  and  warrant  of  the
  comptroller.  Payments of liabilities for expenses of personal services,
  maintenance and operation which shall have been incurred as of the  date
  of  such  transfer  by  the  New  York  state  foundation  for  science,
  technology and innovation,  and  for  liabilities  incurred  and  to  be
  incurred  in  completing  its  affairs  shall  also  be made on vouchers
  certified or approved by the commissioner, on audit and warrant  of  the
  comptroller.
12.  Transfer  of  certain  assets  and liabilities. Upon the transfer
  pursuant to subdivision two of this section of the functions and  powers
  possessed  by  and  all the obligations and duties of the New York state
  foundation  for  science,  technology  and  innovation,  as  established
  pursuant  to  article  ten-A  of  the public authorities law and article
  ten-B of the executive law as prescribed  by  subdivision  two  of  this

  section,  all  cash assets of the New York state foundation for science,
  technology and innovation, and all assets, records, and  liabilities  of
  the  small  business  technology  investment  fund  (SBTIF)  established
  pursuant   to  appropriations  made  by  various  chapters  of  the  law
  including, but not  limited  to  chapter  fifty-three  of  the  laws  of
  nineteen hundred eighty-one, chapter fifty-three of the laws of nineteen
  hundred eighty-five, chapter fifty-three of the laws of nineteen hundred
  eighty-six,   chapter  fifty-three  of  the  laws  of  nineteen  hundred
  eighty-seven, chapter  fifty-three  of  the  laws  of  nineteen  hundred
  eighty-eight,  chapter  fifty-three  of  the  laws  of  nineteen hundred
  eighty-nine, chapter fifty-three of the laws of nineteen hundred ninety,
  chapter fifty-three of the laws of nineteen hundred ninety-one,  chapter
  fifty-three   of  the  laws  of  nineteen  hundred  ninety-two,  chapter
  fifty-three of  the  laws  of  nineteen  hundred  ninety-three,  chapter
  fifty-three  of  the  laws  of nineteen hundred ninety-four, and chapter
  fifty-three of  the  laws  of  nineteen  hundred  ninety-five  shall  be
  transferred to the urban development corporation.
13.  Severability.  If any clause, sentence, paragraph or part of this
  section shall be adjudged by any court of competent jurisdiction  to  be
  invalid,  such  judgment  shall  not  affect,  impair  or invalidate the
  remainder thereof, but shall be confined in its operation to the clause,
  sentence, paragraph or part thereof directly involved in the controversy
  in which such judgment shall have been rendered.