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Assembly Bill A10189

2011-2012 Legislative Session

Relates to program loans to small businesses

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Archive: Last Bill Status - In Assembly Committee

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2011-A10189 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd ยง16-t, UDC Act
Versions Introduced in Other Legislative Sessions:
2013-2014: A2586
2015-2016: A3739

2011-A10189 (ACTIVE) - Summary

Relates to program loans to small businesses; authorizes such loans to be used for short term financing for the purpose of performing contracts to provide for construction or professional services for state procurement purposes.

2011-A10189 (ACTIVE) - Bill Text download pdf 

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

                                  10189

                          I N  A S S E M B L Y

                              May 10, 2012
                               ___________

Introduced  by  M.  of  A.  SCARBOROUGH -- read once and referred to the
  Committee on Small Business

AN ACT to amend the New York state urban development corporation act, in
  relation to program loans to small businesses

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

  Section  1. Paragraphs (c) and (d) of subdivision 3 of section 16-t of
section 1 of chapter 174 of the laws of 1968, constituting the New  York
state urban development corporation act, as amended by section 1 of part
N of chapter 59 of the laws of 2010, are amended and a new paragraph (e)
is added to read as follows:
  (c)  the  acquisition of machinery and equipment, property or improve-
ment; [or] (d) the refinancing of debt obligations; OR  (E)  SHORT  TERM
FINANCING  FOR  THE  PURPOSE  OF  PERFORMING  CONTRACTS  TO  PROVIDE FOR
CONSTRUCTION OR PROFESSIONAL SERVICES FOR STATE PROCUREMENT PURPOSES.
  S 2. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15706-01-2

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