|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to social services|
|Jan 09, 2013||referred to social services|
senate Bill S1188
Archive: Last Bill Status -
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S1188 - Details
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
BILL NUMBER:S1188 TITLE OF BILL: 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 PURPOSE: To allow individuals on public assistance and the working poor to qualify for small, low-interest loans for the purpose of becoming self-employed. SUMMARY OF PROVISIONS: Section 1 amends the social services law by adding a new section 131-bb, which does the following: Subdivision 1 authorizes the Department of Labor to solicit proposals to establish programs to be known as community capital loan program? Such programs shall provide small, low interest loans to persons with incomes below two hundred percent of the federal poverty level for the purpose of assisting the loan recipient to become self-employed. Such loans shall not constitute income or resources for the purposes of public assistance so long as the funds are used for the intended purpose;
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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