Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to corporations, authorities and commissions returned to senate died in assembly |
Jun 15, 2015 |
referred to small business delivered to assembly passed senate |
May 18, 2015 |
advanced to third reading |
May 13, 2015 |
2nd report cal. |
May 12, 2015 |
1st report cal.662 |
Apr 20, 2015 |
referred to corporations, authorities and commissions |
Senate Bill S4828
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee
- 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
2015-S4828 (ACTIVE) - Details
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- New York State Urban Development Corporation Act
- Laws Affected:
- Amd ยง16-t, UDC Act
- Versions Introduced in 2013-2014 Legislative Session:
-
S4359
2015-S4828 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4828 TITLE OF BILL: An act to amend the New York state urban development corporation act, in relation to the small business revolving loan fund program 1. Purpose of Bill: This bill would reallocate to the Small Business Revolving Loan Fund program monies from: (a) the Minority and Women Revolving Loan Trust Fund of the Minority- and Woman-owned Business Development Program; (b) the Micro Enterprises Revolving Loan Trust Fund of the Micro-loan program of the Minority- and Woman-owned Business Development Program; (c) the Urban and Community Commercial Revitalization Revolving Loan and Loan Guarantee Fund of the Urban and Community Development Program; and (d) the Regional Revolving Loan Fund Program, in order to allow more expeditious and efficient deployment of these monies while preserving and strengthening the economic development goals for the Small Business Revolving Loan Fund and of the programs from which the monies are reallocated. 2. Summary of Provisions: Section 1 of the bill amends Urban Development Corporation Act section 16-t, that established the Small Business Revolving loan Trust Fund program, in order to add to that section a new subdivision 17 that, among other things, reallocates to that program monies from: (a) the Minority and Women Revolving Loan Trust Fund of the Minority- and
2015-S4828 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4828 2015-2016 Regular Sessions I N S E N A T E April 20, 2015 ___________ 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 New York state 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 New York state urban development corporation act, is amended by adding a new subdivision 17 to read as follows: 17. AS PROVIDED IN THIS SUBDIVISION, THE CORPORATION IS AUTHORIZED TO REALLOCATE TO THE PROGRAM FUNDS FROM THE REGIONAL REVOLVING LOAN TRUST FUND, MINORITY AND WOMEN REVOLVING LOAN TRUST FUND, MICRO ENTERPRISE REVOLVING LOAN TRUST FUND AND COMMERCIAL DISTRICT REVOLVING LOAN TRUST FUND, PROVIDED, HOWEVER, NOTWITHSTANDING ANY OTHER PROVISION OF THIS SUBDIVISION, THE CORPORATION SHALL ENSURE THAT OF THE TOTAL FUNDS ALLO- CATED FROM THE REVOLVING LOAN TRUST FUNDS TO THE SMALL BUSINESS REVOLV- ING LOAN FUND, AT LEAST 50% OF THOSE FUNDS MUST BE UTILIZED FOR LOANS TO MINORITY BUSINESS ENTERPRISES, AS DEFINED IN SUBDIVISION THREE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC DEVELOPMENT LAW, AND WOMAN-OWNED BUSINESS ENTERPRISES, AS DEFINED IN SUBDIVISION FIVE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC DEVELOPMENT LAW. 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 MINOR- ITY 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 REALLO- CATED FROM THE MICRO ENTERPRISE REVOLVING LOAN TRUST FUND SHALL BE MICROLOANS EQUAL TO OR LESS THAN SEVEN THOUSAND DOLLARS TO MINORITY EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09573-02-5
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