senate Bill S4359

2013-2014 Legislative Session

Relates to the small business revolving loan fund program

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Archive: Last Bill Status - In Committee


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

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Actions

view actions (10)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to corporations, authorities and commissions
returned to senate
died in assembly
Jun 20, 2013 referred to small business
delivered to assembly
passed senate
May 08, 2013 advanced to third reading
May 07, 2013 2nd report cal.
May 06, 2013 1st report cal.542
Mar 21, 2013 referred to corporations, authorities and commissions

Votes

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May 6, 2013 - Corporations, Authorities and Commissions committee Vote

S4359
2
0
committee
2
Aye
0
Nay
3
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Corporations, Authorities and Commissions committee vote details

Corporations, Authorities and Commissions Committee Vote: May 6, 2013

aye wr (3)
excused (1)

S4359 - Details

See Assembly Version of this Bill:
A6916
Current Committee:
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd ยง16-t, UDC Act

S4359 - Summary

Relates to the small business revolving loan fund program.

S4359 - Sponsor Memo

S4359 - Bill Text download pdf

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

                                  4359

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 21, 2013
                               ___________

Introduced by Sen. RANZENHOFER -- (at request of the Empire State Devel-
  opment)  --  read  twice  and  ordered printed, and when printed to be
  committed to the Committee on Corporations,  Authorities  and  Commis-
  sions

AN  ACT  to  amend the urban development corporation act, in relation to
  the small business revolving loan fund program

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

  Section  1.    Section 16-t of section 1 of chapter 174 of the laws of
1968, constituting the urban development corporation act, is amended  by
adding a new subdivision 16 to read as follows:
  (16) AS PROVIDED IN THIS SUBDIVISION, THE CORPORATION IS AUTHORIZED TO
REALLOCATE  TO  THE PROGRAM FUNDS FROM THE REGIONAL REVOLVING LOAN TRUST
FUND, THE MINORITY AND WOMEN REVOLVING LOAN TRUST FUND, THE MICRO ENTER-
PRISE REVOLVING LOAN TRUST FUND AND THE  COMMERCIAL  DISTRICT  REVOLVING
LOAN  TRUST  FUND.  FOR  PROGRAM LOANS MADE WITH SUCH REALLOCATED FUNDS:
(A) LOANS PROVIDED WITH FUNDS REALLOCATED FROM THE  MINORITY  AND  WOMEN
REVOLVING  LOAN TRUST FUND SHALL BE TO MINORITY BUSINESS ENTERPRISES, AS
DEFINED IN SUBDIVISION THREE OF SECTION TWO HUNDRED TEN OF THE  ECONOMIC
DEVELOPMENT  LAW,  AND  WOMEN-OWNED  BUSINESS ENTERPRISES, AS DEFINED IN
SUBDIVISION FIVE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC  DEVELOPMENT
LAW; (B) LOANS PROVIDED WITH FUNDS REALLOCATED FROM THE MICRO ENTERPRISE
REVOLVING  LOAN  TRUST  FUND  SHALL  BE MICROLOANS EQUAL TO OR LESS THAN
SEVEN THOUSAND DOLLARS TO MINORITY BUSINESS ENTERPRISES, AS  DEFINED  IN
SUBDIVISION THREE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC DEVELOPMENT
LAW,  AND  WOMEN-OWNED  BUSINESS  ENTERPRISES, AS DEFINED IN SUBDIVISION
FIVE OF SECTION TWO HUNDRED TEN OF THE  ECONOMIC  DEVELOPMENT  LAW;  (C)
LOANS  PROVIDED  WITH  FUNDS  REALLOCATED  FROM  THE COMMERCIAL DISTRICT
REVOLVING LOAN TRUST FUND SHALL BE TO RETAIL BUSINESS WITHIN  A  COMMER-
CIAL  DISTRICT;  (D) TO THE EXTENT FEASIBLE, THE CORPORATION SHALL APPLY
THE REALLOCATED FUNDS FROM THE REGIONAL REVOLVING  LOAN  TRUST  FUND  SO

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08437-01-3

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