Assembly Bill A540

2023-2024 Legislative Session

Establishes an economic grant program for the Second Avenue Subway construction project area

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Current Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A540 (ACTIVE) - Details

See Senate Version of this Bill:
S808
Current Committee:
Assembly Economic Development
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §16-bb, UDC Act; add §131-a, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2009-2010: A6137
2011-2012: A1116, A9021
2013-2014: A1514
2015-2016: A990
2017-2018: A674
2019-2020: A2545, S3908
2021-2022: A4168, A9489, S1425

2023-A540 (ACTIVE) - Summary

Establishes an economic development grant program for the Second Avenue Subway construction project area; defines micro business.

2023-A540 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    540
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 9, 2023
                                ___________
 
 Introduced  by M. of A. GIBBS, AUBRY, SIMON -- read once and referred to
   the Committee on Economic Development
 
 AN ACT to amend the New York state urban development corporation act, in
   relation to establishing a Second Avenue Subway construction  economic
   development  grant program; and to amend the economic development law,
   in relation to the definition of micro business
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Section 1 of chapter 174 of the laws of 1968, constituting
 the New York state urban development  corporation  act,  is  amended  by
 adding a new section 16-bb to read as follows:
   §  16-BB. SECOND AVENUE SUBWAY CONSTRUCTION ECONOMIC DEVELOPMENT GRANT
 PROGRAM. (1) THERE IS HEREBY CREATED A SECOND AVENUE SUBWAY CONSTRUCTION
 ECONOMIC DEVELOPMENT GRANT PROGRAM FOR THE PURPOSE OF  PROVIDING  FINAN-
 CIAL  AND  TECHNICAL  ASSISTANCE TO BUSINESSES LOCATED WITHIN THE SECOND
 AVENUE  SUBWAY  CONSTRUCTION  BUSINESS  ZONE  AREA  DURING  PERIODS   OF
 CONSTRUCTION.
   (2)  FOR  THE  PURPOSES  OF  THIS SECTION THE FOLLOWING WORDS OR TERMS
 SHALL MEAN AS FOLLOWS:
   (A) "SMALL BUSINESS" SHALL HAVE THE SAME MEANING AS DEFINED IN SECTION
 131 OF THE ECONOMIC DEVELOPMENT LAW.
   (B) "QUALIFIED BUSINESS" SHALL MEAN A SMALL BUSINESS OR MICRO BUSINESS
 OPERATING WITHIN A ONE HUNDRED FIFTY FOOT RADIUS OF  THE  BUSINESS  ZONE
 AREA  DURING A PERIOD OF AUTHORIZED CONSTRUCTION, AND THE BUSINESS HAS A
 DEMONSTRATED LOSS.
   (C) "BUSINESS ZONE AREA" SHALL MEAN:
   (I) AN AREA IN WHICH THE CHAIR  OF  THE  CORPORATION  DETERMINES  THAT
 CONSTRUCTION  ON  THE SECOND AVENUE SUBWAY PROJECT HAS OCCURRED THAT HAS
 BEEN CERTIFIED BY THE COMMISSIONER FOR THE  METROPOLITAN  TRANSPORTATION
 AUTHORITY; OR
   (II) THE FOLLOWING AREAS:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01929-01-3
              

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