Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 19, 2016 |
signed chap.254 |
Aug 08, 2016 |
delivered to governor |
Jun 01, 2016 |
returned to assembly passed senate 3rd reading cal.1019 substituted for s579c |
May 25, 2016 |
referred to corporations, authorities and commissions delivered to senate passed assembly |
May 16, 2016 |
amended on third reading 6621b |
May 12, 2016 |
advanced to third reading cal.603 |
May 10, 2016 |
reported |
Apr 05, 2016 |
reported referred to ways and means |
Mar 24, 2016 |
print number 6621a |
Mar 24, 2016 |
amend (t) and recommit to small business |
Jan 06, 2016 |
referred to small business |
Mar 27, 2015 |
referred to small business |
Assembly Bill A6621
Signed By Governor2015-2016 Legislative Session
Sponsored By
KIM
Archive: Last Bill Status - Signed by Governor
- 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
Actions
Votes
Bill Amendments
2015-A6621 - Details
- Law Section:
- New York State Urban Development Corporation Act
- Laws Affected:
- Amd §16-t, UDC Act
2015-A6621 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6621 2015-2016 Regular Sessions I N A S S E M B L Y March 27, 2015 ___________ Introduced by M. of A. KIM -- 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 requiring the small business revolving loan fund to issue a certain percentage of its remaining principal or further appropri- ations to micro loans and micro seed loans THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. 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 II of chapter 59 of the laws of 2013, is amended to read as follows: 3. Program loans to small businesses shall be targeted and marketed to minority and women-owned enterprises and other small businesses that are having difficulty accessing traditional credit markets. Program loans to small businesses shall be used for the creation and retention of jobs, as defined by the corporation, including: (a) working capital; (b) the acquisition and/or improvement of real property; (c) the acquisition of machinery and equipment, property or improvement; or (d) the refinancing of debt obligations. There shall be [two] THREE categories of loans to small businesses: A MICRO SEED LOAN THAT SHALL HAVE A PRINCIPAL AMOUNT LESS THAN FIVE THOUSAND DOLLARS; a micro loan that shall have a princi- pal amount [that is] NOT LESS THAN FIVE THOUSAND DOLLARS AND less than twenty-five thousand dollars; and a regular loan that shall have a prin- cipal amount not less than twenty-five thousand dollars. THE CORPO- RATION SHALL PROVIDE THAT NOT LESS THAN FIFTEEN PERCENT OF ANY REMAINING PRINCIPAL, INTEREST, OR FURTHER APPROPRIATION OF THE FUND ON OR AFTER JULY FIRST, TWO THOUSAND SIXTEEN IS SET ASIDE FOR MICRO LOANS. FURTHER- MORE THE CORPORATION SHALL PROVIDE THAT NOT LESS THAN FIVE PERCENT OF ANY REMAINING PRINCIPAL, INTEREST, OR FURTHER APPROPRIATION OF THE FUND ON OR AFTER JULY FIRST, TWO THOUSAND SIXTEEN IS SET ASIDE FOR MICRO SEED EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00174-02-5
co-Sponsors
Robert J. Rodriguez
2015-A6621A - Details
- Law Section:
- New York State Urban Development Corporation Act
- Laws Affected:
- Amd §16-t, UDC Act
2015-A6621A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6621--A 2015-2016 Regular Sessions I N A S S E M B L Y March 27, 2015 ___________ Introduced by M. of A. KIM -- read once and referred to the Committee on Small Business -- recommitted to the Committee on Small Business in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to amend the New York state urban development corporation act, in relation to micro-businesses and micro loans THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 1, 2, 3, and 5 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 II of chap- ter 59 of the laws of 2013, is amended to read as follows: 1. The small business revolving loan fund program is hereby created. The corporation is authorized, within available appropriations, to provide low interest loans to community development financial insti- tutions, in order to provide funding for those lending organizations' loans to small businesses, AND MICRO-BUSINESSES located within New York state, that generate economic growth and job creation within New York state but that are unable to obtain adequate credit or adequate terms for such credit. If in the discretion of the corporation the use of a community development financial institution is not practicable based upon the application of rules and regulations developed by the corpo- ration, including, but not limited to, assessments of geographic and administrative capacity, then the corporation is authorized, within available appropriations, to provide low interest loans to the following other local community based lending organizations: small business lend- ing consortia, certified development companies, providers of United States department of agriculture business and industrial guaranteed loans, United States small business administration loan providers, cred- it unions and community banks. As used in this section "small business" EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00174-07-6
co-Sponsors
Robert J. Rodriguez
2015-A6621B (ACTIVE) - Details
- Law Section:
- New York State Urban Development Corporation Act
- Laws Affected:
- Amd §16-t, UDC Act
2015-A6621B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6621--B Cal. No. 603 2015-2016 Regular Sessions I N A S S E M B L Y March 27, 2015 ___________ Introduced by M. of A. KIM, RODRIGUEZ -- read once and referred to the Committee on Small Business -- recommitted to the Committee on Small Business in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- reported and referred to the Committee on Ways and Means -- reported from committee, advanced to a third reading, amended and ordered reprinted, retaining its place on the order of third reading AN ACT to amend the New York state urban development corporation act, in relation to micro-businesses and micro loans THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivisions 1, 2, 3, and 5 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 II of chap- ter 59 of the laws of 2013, is amended to read as follows: 1. The small business revolving loan fund program is hereby created. The corporation is authorized, within available appropriations, to provide low interest loans to community development financial insti- tutions, in order to provide funding for those lending organizations' loans to small businesses, AND MICRO-BUSINESSES located within New York state, that generate economic growth and job creation within New York state but that are unable to obtain adequate credit or adequate terms for such credit. If in the discretion of the corporation the use of a community development financial institution is not practicable based upon the application of rules and regulations developed by the corpo- ration, including, but not limited to, assessments of geographic and administrative capacity, then the corporation is authorized, within available appropriations, to provide low interest loans to the following other local community based lending organizations: small business lend- ing consortia, certified development companies, providers of United EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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