senate Bill S1188

2013-2014 Legislative Session

Establishes a community capital loan program

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Sponsored By

Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to social services
Jan 09, 2013 referred to social services

Co-Sponsors

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S1188 - Details

Law Section:
Social Services Law
Laws Affected:
Add §131-bb, Soc Serv L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S1444
2009-2010: S415

S1188 - Summary

Provides that the department of labor in consultation with the department of family assistance is authorized and directed to solicit proposals to establish community loan programs providing small, no-interest loans to persons with income below 200% of the federal poverty level in order to become self-employed; requires the commissioner to contract with not-for-profit corps to administer loan pools.

S1188 - Sponsor Memo

S1188 - Bill Text download pdf

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

                                  1188

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sens.  BRESLIN, ADAMS, DILAN, HASSELL-THOMPSON, KRUEGER,
  MONTGOMERY, PARKER, SAMPSON, SMITH, STAVISKY -- read twice and ordered
  printed, and when printed to be committed to the Committee  on  Social
  Services

AN ACT to amend the social services law, in relation to establishing the
  community  capital  loan  program  and  providing  for the filing of a
  report thereon

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

  Section  1. The social services law is amended by adding a new section
131-bb to read as follows:
  S 131-BB. COMMUNITY CAPITAL LOAN PROGRAM. 1. FROM AMOUNTS APPROPRIATED
FOR SUCH PURPOSE, THE DEPARTMENT  OF  LABOR  IN  CONSULTATION  WITH  THE
DEPARTMENT  OF  FAMILY  ASSISTANCE  IS HEREBY AUTHORIZED AND DIRECTED TO
SOLICIT PROPOSALS TO ESTABLISH PROGRAMS TO BE KNOWN AS COMMUNITY CAPITAL
LOAN PROGRAMS. SUCH PROGRAMS SHALL PROVIDE SMALL, NO-INTEREST  LOANS  TO
PERSONS  WITH  INCOME  BELOW  TWO HUNDRED PERCENT OF THE FEDERAL POVERTY
LEVEL FOR THE PURPOSE OF ASSISTING THE LOAN RECIPIENT TO BECOME SELF-EM-
PLOYED. LOANS AWARDED THROUGH A COMMUNITY CAPITAL LOAN  PROGRAM  MAY  BE
PAID  DIRECTLY  TO  A  THIRD  PARTY ON BEHALF OF A LOAN RECIPIENT AND IN
EITHER CASE SHALL NOT CONSTITUTE INCOME OR RESOURCES FOR THE PURPOSES OF
PUBLIC ASSISTANCE AND CARE SO  LONG  AS  THE  FUNDS  ARE  USED  FOR  THE
INTENDED PURPOSE.
  2.  THE COMMISSIONER OF LABOR SHALL ENTER INTO WRITTEN AGREEMENTS WITH
NOT-FOR-PROFIT ORGANIZATIONS OR LOCAL GOVERNMENT AGENCIES TO  ADMINISTER
LOAN  POOLS.  AGREEMENTS  SHALL  BE  ENTERED INTO WITH NO MORE THAN FOUR
ORGANIZATIONS AND/OR AGENCIES, NO  MORE  THAN  ONE  OF  WHICH  SHALL  BE
LOCATED IN THE CITY OF NEW YORK.
  3.  PROGRAM  SITES SHALL BE APPROVED BASED ON THE DEMONSTRATED ABILITY
OF THE ORGANIZATION  OR  GOVERNMENTAL  AGENCY  TO  SECURE  FUNDING  FROM

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

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