Assembly Bill A2063B

2015-2016 Legislative Session

Establishes the microenterprise development act to assist very small businesses and low-income business people

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Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business 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

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Feb 09, 2016	referred to commerce, economic development and small business delivered to senate passed assembly
Jan 11, 2016	amended on third reading 2063b
Jan 06, 2016	ordered to third reading cal.99 returned to assembly died in senate
Jun 11, 2015	referred to commerce, economic development and small business delivered to senate passed assembly
Jun 10, 2015	ordered to third reading rules cal.212 rules report cal.212 reported
Jun 08, 2015	reported referred to rules
Jun 02, 2015	reported referred to ways and means
May 28, 2015	print number 2063a
May 28, 2015	amend (t) and recommit to small business
May 21, 2015	reference changed to small business
Jan 15, 2015	referred to economic development

Bill Amendments

Original

B (Active)

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2015-A2063 - Details

Current Committee:: Senate Commerce, Economic Development And Small Business
Law Section:: Economic Development Law
Laws Affected:: Add Art 9-B §217, Ec Dev L
Versions Introduced in Other Legislative Sessions:: 2009-2010: A1639
2011-2012: A1117, A8889
2013-2014: A2248
2017-2018: A3767

2015-A2063 - Summary

Establishes the microenterprise development act to assist very small businesses and low-income business people.

2015-A2063 - Bill Text download pdf

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

                                  2063

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 15, 2015
                               ___________

Introduced  by M. of A. QUART -- Multi-Sponsored by -- M. of A. BRENNAN,
  BRINDISI, GUNTHER, HOOPER, JAFFEE, LAVINE, LUPARDO,  ROSENTHAL,  SIMA-
  NOWITZ, TITONE, TITUS, WEPRIN -- read once and referred to the Commit-
  tee on Economic Development

AN ACT to amend the economic development law, in relation to microenter-
  prise development; and making an appropriation therefor

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

  Section 1. Short title. This act shall be known and may  be  cited  as
the "microenterprise development act".
  S  2.  Legislative  findings and purpose. (a) The legislature finds as
follows:
  1. Development and expansion of businesses in economically  distressed
communities  in  both rural and urban areas can assist residents who are
unemployed, underemployed or in low-income jobs.
  2. Microenterprises provide a means for unemployed,  underemployed  or
low-income  individuals  to  find  and sustain productive work, and they
provide opportunities for economically distressed communities to thrive.
  3. Low-income microentrepreneurs lack access to capital, training  and
technical  assistance.  Many  low-income microentrepreneurs need lending
services and technical assistance to  start,  operate  or  expand  their
businesses.
  4. Local microenterprise support organizations have demonstrated cost-
effective  delivery methods for providing lending services and technical
assistance.
  5. Charitable foundation support, federal program funding and  private
sector  support  can be leveraged by a statewide program for development
of microenterprises.
  (b) The purpose of this act is to strengthen  the  state  economy  and
enable  low-income  residents  to  become self-sufficient by encouraging
microenterprise development.
  S 3. The economic development law is amended by adding a  new  article
9-B to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                      [ ] is old law to be omitted.
                                                           LBD04471-01-5

A. 2063                             2

                               ARTICLE 9-B
                       MICROENTERPRISE DEVELOPMENT
SECTION 217. MICROENTERPRISE DEVELOPMENT.
  S  217.  MICROENTERPRISE DEVELOPMENT. (A) AS USED IN THIS SECTION, THE
FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  1. "COMMISSIONER" MEANS THE COMMISSIONER OF THE DEPARTMENT OF ECONOMIC
DEVELOPMENT.
  2. "MICROENTERPRISE" MEANS  A  SOLE  PROPRIETORSHIP,  PARTNERSHIP,  OR
CORPORATION  THAT  HAS  FEWER  THAN  FOUR  EMPLOYEES AND GENERALLY LACKS
ACCESS TO CONVENTIONAL LOANS, EQUITY, OR OTHER BANKING SERVICES.
  3.  "MICROENTERPRISE  DEVELOPMENT  ORGANIZATION"  OR  "MICROENTERPRISE
DEVELOPMENT  PROGRAM" MEANS A NONPROFIT ENTITY OR A PROGRAM ADMINISTERED
BY SUCH AN ENTITY, INCLUDING COMMUNITY DEVELOPMENT CORPORATIONS OR OTHER
NONPROFIT DEVELOPMENT ORGANIZATIONS AND  SOCIAL  SERVICE  ORGANIZATIONS,
THAT PROVIDES SERVICES TO LOW-INCOME MICROENTERPRISES.
  4.  "TRAINING  AND  TECHNICAL  ASSISTANCE"  MEANS SERVICES AND SUPPORT
PROVIDED TO LOW-INCOME OWNERS AND OPERATORS OF MICROENTERPRISES, SUCH AS
ASSISTANCE FOR THE PURPOSE OF  ENHANCING  BUSINESS  PLANNING,  MARKETING
MANAGEMENT,  FINANCIAL MANAGEMENT SKILLS, AND ASSISTANCE FOR THE PURPOSE
OF ACCESSING FINANCIAL SERVICES.
  5. "LOW-INCOME PERSON" MEANS A PERSON WITH INCOME ADJUSTED FOR  FAMILY
SIZE THAT DOES NOT EXCEED:
  A. FOR METROPOLITAN AREAS, EIGHTY PERCENT OF MEDIAN INCOME; OR
  B.  FOR  NONMETROPOLITAN  AREAS,  THE GREATER OF EIGHTY PERCENT OF THE
AREA MEDIAN INCOME OR EIGHTY PERCENT OF  THE  STATEWIDE  NONMETROPOLITAN
AREA MEDIAN INCOME.
  (B)  1.  THE  COMMISSIONER SHALL ESTABLISH A MICROENTERPRISE TECHNICAL
ASSISTANCE AND CAPACITY BUILDING GRANT PROGRAM, WHICH SHALL  RECEIVE  AN
ANNUAL  APPROPRIATION  FROM  THE LEGISLATURE OF NO LESS THAN ONE MILLION
DOLLARS, TO PROVIDE ASSISTANCE IN THE FORM OF GRANTS TO  MICROENTERPRISE
DEVELOPMENT ORGANIZATIONS.
  2.  A  MICROENTERPRISE  DEVELOPMENT ORGANIZATION SHALL USE GRANTS MADE
UNDER THIS PROGRAM TO PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO  LOW-
INCOME ENTREPRENEURS OPERATING MICROENTERPRISES.
  3.  THE  COMMISSIONER SHALL ENSURE THAT NOT LESS THAN FIFTY PERCENT OF
THE FUNDS MADE AVAILABLE ARE  USED  TO  BENEFIT  PERSONS  WHOSE  INCOME,
ADJUSTED  FOR FAMILY SIZE, IS NOT MORE THAN ONE HUNDRED FIFTY PERCENT OF
THE POVERTY LINE AS DEFINED IN 42 U.S.C. 9902(2).
  4. A MICROENTERPRISE DEVELOPMENT ORGANIZATION MUST  PROVIDE  AT  LEAST
ONE DOLLAR IN MATCHING FUNDS FOR EVERY DOLLAR OF STATE FINANCIAL ASSIST-
ANCE. FEES, GRANTS, AND GIFTS FROM PUBLIC OR PRIVATE SOURCES MAY BE USED
TO COMPLY WITH THE MATCHING FUNDS REQUIREMENT.
  5. THE COMMISSIONER SHALL ESTABLISH BY REGULATION SUCH REQUIREMENTS AS
MAY BE NECESSARY TO CARRY OUT THE PROVISIONS OF THIS SECTION.
  S   4.   The   sum  of  one  million  five  hundred  thousand  dollars
($1,500,000), or so much thereof as may be necessary, is  hereby  appro-
priated  to  the department of economic development out of any moneys in
the state treasury in the general  fund  to  the  credit  of  the  state
purposes  account,  not  otherwise  appropriated,  and  made immediately
available, for the purpose of carrying out the provisions of  this  act.
Such moneys shall be payable on the audit and warrant of the comptroller
on vouchers certified or approved by the commissioner of economic devel-
opment, or his or her designee, in the manner prescribed by law.
  S  5.  This act shall take effect on the first of July next succeeding
the date on which it shall have become a law.

co-Sponsors

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multi-Sponsors

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2015-A2063A - Details

Current Committee:: Senate Commerce, Economic Development And Small Business
Law Section:: Economic Development Law
Laws Affected:: Add Art 9-B §217, Ec Dev L
Versions Introduced in Other Legislative Sessions:: 2009-2010: A1639
2011-2012: A1117, A8889
2013-2014: A2248
2017-2018: A3767

2015-A2063A - Summary

Establishes the microenterprise development act to assist very small businesses and low-income business people.

2015-A2063A - Bill Text download pdf

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

                                 2063--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 15, 2015
                               ___________

Introduced by M. of A. QUART, BLAKE, JOYNER, COLTON, MOSLEY, ROBINSON --
  Multi-Sponsored  by  --  M.  of A. BRENNAN, BRINDISI, GUNTHER, HOOPER,
  JAFFEE, KEARNS, LAVINE, LUPARDO, ROSENTHAL, SCHIMEL, SEAWRIGHT,  SIMA-
  NOWITZ, TITONE, TITUS, WEPRIN -- read once and referred to the Commit-
  tee  on  Economic Development -- reference changed to the Committee on
  Small  Business  --  committee  discharged,  bill   amended,   ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the economic development law, in relation to microenter-
  prise development

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

  Section 1. Short title. This act shall be known and may  be  cited  as
the "microenterprise development act".
  S  2.  Legislative  findings and purpose. (a) The legislature finds as
follows:
  1. Development and expansion of businesses in economically  distressed
communities  in  both rural and urban areas can assist residents who are
unemployed, underemployed or in low-income jobs.
  2. Microenterprises are important elements of New York's  economy  and
play  an  essential role in job creation, entrepreneurial skill develop-
ment, and enhancing the ability of low-income households to become self-
sufficient.  Microenterprises provide a means for  unemployed,  underem-
ployed  or  low-income  individuals to find and sustain productive work,
and they provide opportunities for economically  distressed  communities
to thrive.
  3. Microentrepreneurs, especially those with low incomes, often do not
have  access to commercial credit because of lack of business experience
or training, collateral to secure business loans, or lack of history  of
business records to demonstrate their loan repayment potential.
  4.  Local  community-based  microenterprise support organizations have
demonstrated cost-effective delivery methods  for  providing  financial,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04471-03-5

A. 2063--A                          2

business,  and  technical  assistance,  including microloans, mentoring,
physical space and other essential services to microenterprises.
  5.  Charitable foundation support, federal program funding and private
sector support can be leveraged by a statewide program  for  development
of microenterprises.
  (b)  The  purpose  of  this act is to strengthen the state economy and
enable low-income residents to  become  self-sufficient  by  encouraging
microenterprise development.
  S  3.  The economic development law is amended by adding a new article
9-B to read as follows:
                               ARTICLE 9-B
                       MICROENTERPRISE DEVELOPMENT
SECTION 217. MICROENTERPRISE DEVELOPMENT.
  S 217. MICROENTERPRISE DEVELOPMENT. (A) THERE IS HEREBY ESTABLISHED  A
MICROENTERPRISE  DEVELOPMENT PROGRAM UNDER THE PURVIEW OF THE DEPARTMENT
OF ECONOMIC DEVELOPMENT.   SUCH PROGRAM SHALL  PROVIDE  MICROENTERPRISES
WITH  FINANCIAL,  BUSINESS,  OR TECHNICAL ASSISTANCE, INCLUDING, BUT NOT
LIMITED TO, ACCESS TO FINANCING, MENTORING, TRAINING OR ACQUIRING  PHYS-
ICAL SPACE.
  (B)  AS  USED  IN  THIS  SECTION,  THE  FOLLOWING TERMS SHALL HAVE THE
FOLLOWING MEANINGS:
  1. "COMMISSIONER" MEANS THE COMMISSIONER OF THE DEPARTMENT OF ECONOMIC
DEVELOPMENT.
  2. "MICROENTERPRISE" MEANS ANY BUSINESS, WHETHER NEW OR EXISTING, THAT
IS A SOLE PROPRIETORSHIP, PARTNERSHIP, OR CORPORATION WHICH HAS FIVE  OR
LESS EMPLOYEES.
  3.  "MICROENTERPRISE DEVELOPMENT ORGANIZATION" MEANS A COMMUNITY-BASED
ORGANIZATION, OR SOCIAL SERVICE ORGANIZATION, OR OTHER NONPROFIT  ENTITY
THAT HAS DEVELOPED A PROGRAM TO PROVIDE MICROENTERPRISES WITH FINANCIAL,
BUSINESS, OR TECHNICAL ASSISTANCE, INCLUDING, BUT NOT LIMITED TO, ACCESS
TO FINANCING, MENTORING, TRAINING, OR ACQUIRING PHYSICAL SPACE.
  4.  "TRAINING  AND  TECHNICAL  ASSISTANCE"  MEANS SERVICES AND SUPPORT
PROVIDED TO  MICROENTERPRISES,  ESPECIALLY  THOSE  THAT  ARE  LOW-INCOME
OWNERS,  FOR  ENHANCING  BUSINESS  PLANNING,  MARKETING  MANAGEMENT, AND
IMPROVING FINANCIAL MANAGEMENT SKILLS,  FOR  THE  PURPOSE  OF  ACCESSING
FINANCIAL SERVICES, SUCH AS LOANS, MICROLOANS AND GRANTS.
  5.  "LOW-INCOME PERSON" MEANS A PERSON WITH INCOME ADJUSTED FOR FAMILY
SIZE THAT DOES NOT EXCEED:
  A. FOR METROPOLITAN AREAS, EIGHTY PERCENT  OF  MEDIAN  INCOME  OF  THE
METROPOLITAN AREA; OR
  B.  FOR  NONMETROPOLITAN  AREAS,  THE GREATER OF EIGHTY PERCENT OF THE
AREA MEDIAN INCOME OR EIGHTY PERCENT OF  THE  STATEWIDE  NONMETROPOLITAN
AREA MEDIAN INCOME.
  (C)  1.  THE COMMISSIONER IS AUTHORIZED TO ESTABLISH A MICROENTERPRISE
TECHNICAL ASSISTANCE AND CAPACITY  BUILDING  GRANT  PROGRAM  TO  PROVIDE
ASSISTANCE  IN  THE  FORM  OF  GRANTS  OF UP TO FIVE THOUSAND DOLLARS TO
MICROENTERPRISE DEVELOPMENT ORGANIZATIONS TO USE  AS  PROVIDED  IN  THIS
SUBDIVISION FROM AVAILABLE APPROPRIATIONS.
  2.  A  MICROENTERPRISE  DEVELOPMENT ORGANIZATION SHALL USE GRANTS MADE
UNDER THIS PROGRAM TO PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO  LOW-
INCOME ENTREPRENEURS OPERATING MICROENTERPRISES.
  3.  THE  COMMISSIONER SHALL ENSURE THAT NOT LESS THAN FIFTY PERCENT OF
THE FUNDS MADE AVAILABLE ARE  USED  TO  BENEFIT  PERSONS  WHOSE  INCOME,
ADJUSTED  FOR FAMILY SIZE, IS NOT MORE THAN ONE HUNDRED FIFTY PERCENT OF
THE POVERTY LINE AS DEFINED IN 42 U.S.C. 9902(2).

A. 2063--A                          3

  4. A MICROENTERPRISE DEVELOPMENT ORGANIZATION MUST  PROVIDE  AT  LEAST
ONE DOLLAR IN MATCHING FUNDS FOR EVERY DOLLAR OF STATE FINANCIAL ASSIST-
ANCE. FEES, GRANTS, AND GIFTS FROM PUBLIC OR PRIVATE SOURCES MAY BE USED
TO COMPLY WITH THE MATCHING FUNDS REQUIREMENT.
  5.  THE  COMMISSIONER SHALL ASSIST MICROENTERPRISES TO ACCESS EXISTING
GRANTS, LOANS, AND OTHER PROGRAMS AND SERVICES CURRENTLY AVAILABLE  FROM
ANY  STATE  ENTITY.  FURTHER,  THE  COMMISSIONER  SHALL ACTIVELY SEEK TO
ENCOURAGE PRIVATE FINANCIAL INSTITUTIONS TO MAKE  LOANS  TO  MICROENTER-
PRISES.
  S  4.  Rules and regulations. The commissioner of economic development
is authorized to promulgate rules and regulations in accordance with the
state administrative procedure act that are  necessary  to  fulfill  the
purposes  of  this  act.  Such  rules and regulations shall be completed
within one hundred eighty days after the effective date of this act.
  S 5. This act shall take effect July 1, 2016.

co-Sponsors

View additional co-sponsors

multi-Sponsors

View additional multi-sponsors

2015-A2063B (ACTIVE) - Details

Current Committee:: Senate Commerce, Economic Development And Small Business
Law Section:: Economic Development Law
Laws Affected:: Add Art 9-B §217, Ec Dev L
Versions Introduced in Other Legislative Sessions:: 2009-2010: A1639
2011-2012: A1117, A8889
2013-2014: A2248
2017-2018: A3767

2015-A2063B (ACTIVE) - Summary

Establishes the microenterprise development act to assist very small businesses and low-income business people.

2015-A2063B (ACTIVE) - Bill Text download pdf

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

                                 2063--B
                                                         Cal. No. 99

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 15, 2015
                               ___________

Introduced  by  M. of A. QUART, BLAKE, JOYNER, COLTON, MOSLEY, ROBINSON,
  RODRIGUEZ --  Multi-Sponsored  by  --  M.  of  A.  BRENNAN,  BRINDISI,
  GUNTHER,  HOOPER, JAFFEE, KEARNS, LAVINE, LUPARDO, ROSENTHAL, SCHIMEL,
  SEAWRIGHT, SIMANOWITZ, TITONE, TITUS, WEPRIN -- read once and referred
  to the Committee on Economic Development -- reference changed  to  the
  Committee  on  Small  Business  -- committee discharged, bill amended,
  ordered reprinted as amended and  recommitted  to  said  committee  --
  advanced  to a third reading, amended and ordered reprinted, retaining
  its place on the order of third reading

AN ACT to amend the economic development law, in relation to microenter-
  prise development

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

  Section  1.  Short  title. This act shall be known and may be cited as
the "microenterprise development act".
  S 2. Legislative findings and purpose. (a) The  legislature  finds  as
follows:
  1.  Development and expansion of businesses in economically distressed
communities in both rural and urban areas can assist residents  who  are
unemployed, underemployed or in low-income jobs.
  2.  Microenterprises  are important elements of New York's economy and
play an essential role in job creation, entrepreneurial  skill  develop-
ment, and enhancing the ability of low-income households to become self-
sufficient.    Microenterprises provide a means for unemployed, underem-
ployed or low-income individuals to find and  sustain  productive  work,
and  they  provide opportunities for economically distressed communities
to thrive.
  3. Microentrepreneurs, especially those with low incomes, often do not
have access to commercial credit because of lack of business  experience
or  training, collateral to secure business loans, or lack of history of
business records to demonstrate their loan repayment potential.

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

                                                           LBD04471-04-6

A. 2063--B                          2

  4. Local community-based microenterprise  support  organizations  have
demonstrated  cost-effective  delivery  methods for providing financial,
business, and technical  assistance,  including  microloans,  mentoring,
physical space and other essential services to microenterprises.
  5.  Charitable foundation support, federal program funding and private
sector support can be leveraged by a statewide program  for  development
of microenterprises.
  (b)  The  purpose  of  this act is to strengthen the state economy and
enable low-income residents to  become  self-sufficient  by  encouraging
microenterprise development.
  S  3.  The economic development law is amended by adding a new article
9-B to read as follows:
                               ARTICLE 9-B
                       MICROENTERPRISE DEVELOPMENT
SECTION 217. MICROENTERPRISE DEVELOPMENT.
  S 217. MICROENTERPRISE DEVELOPMENT. (A) THERE IS HEREBY ESTABLISHED  A
MICROENTERPRISE  DEVELOPMENT PROGRAM UNDER THE PURVIEW OF THE DEPARTMENT
OF ECONOMIC DEVELOPMENT.   SUCH PROGRAM SHALL  PROVIDE  MICROENTERPRISES
WITH  FINANCIAL,  BUSINESS,  OR TECHNICAL ASSISTANCE, INCLUDING, BUT NOT
LIMITED TO, ACCESS TO FINANCING, MENTORING, TRAINING OR ACQUIRING  PHYS-
ICAL SPACE.
  (B)  AS  USED  IN  THIS  SECTION,  THE  FOLLOWING TERMS SHALL HAVE THE
FOLLOWING MEANINGS:
  1. "COMMISSIONER" MEANS THE COMMISSIONER OF THE DEPARTMENT OF ECONOMIC
DEVELOPMENT.
  2. "MICROENTERPRISE" MEANS ANY BUSINESS, WHETHER NEW OR EXISTING, THAT
IS A SOLE PROPRIETORSHIP, PARTNERSHIP, OR CORPORATION WHICH HAS FIVE  OR
LESS EMPLOYEES.
  3.  "MICROENTERPRISE DEVELOPMENT ORGANIZATION" MEANS A COMMUNITY-BASED
ORGANIZATION, OR SOCIAL SERVICE ORGANIZATION, OR OTHER NONPROFIT  ENTITY
THAT HAS DEVELOPED A PROGRAM TO PROVIDE MICROENTERPRISES WITH FINANCIAL,
BUSINESS, OR TECHNICAL ASSISTANCE, INCLUDING, BUT NOT LIMITED TO, ACCESS
TO FINANCING, MENTORING, TRAINING, OR ACQUIRING PHYSICAL SPACE.
  4.  "TRAINING  AND  TECHNICAL  ASSISTANCE"  MEANS SERVICES AND SUPPORT
PROVIDED TO  MICROENTERPRISES,  ESPECIALLY  THOSE  THAT  ARE  LOW-INCOME
OWNERS,  FOR  ENHANCING  BUSINESS  PLANNING,  MARKETING  MANAGEMENT, AND
IMPROVING FINANCIAL MANAGEMENT SKILLS,  FOR  THE  PURPOSE  OF  ACCESSING
FINANCIAL SERVICES, SUCH AS LOANS, MICROLOANS AND GRANTS.
  5.  "LOW-INCOME PERSON" MEANS A PERSON WITH INCOME ADJUSTED FOR FAMILY
SIZE THAT DOES NOT EXCEED:
  A. FOR METROPOLITAN AREAS, EIGHTY PERCENT  OF  MEDIAN  INCOME  OF  THE
METROPOLITAN AREA; OR
  B.  FOR  NONMETROPOLITAN  AREAS,  THE GREATER OF EIGHTY PERCENT OF THE
AREA MEDIAN INCOME OR EIGHTY PERCENT OF  THE  STATEWIDE  NONMETROPOLITAN
AREA MEDIAN INCOME.
  (C)  1.  THE COMMISSIONER IS AUTHORIZED TO ESTABLISH A MICROENTERPRISE
TECHNICAL ASSISTANCE AND CAPACITY  BUILDING  GRANT  PROGRAM  TO  PROVIDE
ASSISTANCE  IN  THE  FORM  OF  GRANTS  OF UP TO FIVE THOUSAND DOLLARS TO
MICROENTERPRISE DEVELOPMENT ORGANIZATIONS TO USE  AS  PROVIDED  IN  THIS
SUBDIVISION FROM AVAILABLE APPROPRIATIONS.
  2.  A  MICROENTERPRISE  DEVELOPMENT ORGANIZATION SHALL USE GRANTS MADE
UNDER THIS PROGRAM TO PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO  LOW-
INCOME ENTREPRENEURS OPERATING MICROENTERPRISES.
  3.  THE  COMMISSIONER SHALL ENSURE THAT NOT LESS THAN FIFTY PERCENT OF
THE FUNDS MADE AVAILABLE ARE  USED  TO  BENEFIT  PERSONS  WHOSE  INCOME,

A. 2063--B                          3

ADJUSTED  FOR FAMILY SIZE, IS NOT MORE THAN ONE HUNDRED FIFTY PERCENT OF
THE POVERTY LINE AS DEFINED IN 42 U.S.C. 9902(2).
  4.  A  MICROENTERPRISE  DEVELOPMENT ORGANIZATION MUST PROVIDE AT LEAST
ONE DOLLAR IN MATCHING FUNDS FOR EVERY DOLLAR OF STATE FINANCIAL ASSIST-
ANCE. FEES, GRANTS, AND GIFTS FROM PUBLIC OR PRIVATE SOURCES MAY BE USED
TO COMPLY WITH THE MATCHING FUNDS REQUIREMENT.
  5. THE COMMISSIONER SHALL ASSIST MICROENTERPRISES TO  ACCESS  EXISTING
GRANTS,  LOANS, AND OTHER PROGRAMS AND SERVICES CURRENTLY AVAILABLE FROM
ANY STATE ENTITY. FURTHER,  THE  COMMISSIONER  SHALL  ACTIVELY  SEEK  TO
ENCOURAGE  PRIVATE  FINANCIAL  INSTITUTIONS TO MAKE LOANS TO MICROENTER-
PRISES.
  S 4. Rules and regulations. The commissioner of  economic  development
is authorized to promulgate rules and regulations in accordance with the
state  administrative  procedure  act  that are necessary to fulfill the
purposes of this act. Such rules  and  regulations  shall  be  completed
within one hundred eighty days after the effective date of this act.
  S 5. This act shall take effect July 1, 2017.

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Assembly Bill A2063B

Sponsored By

Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee

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co-Sponsors

multi-Sponsors

2015-A2063 - Details

2015-A2063 - Summary

2015-A2063 - Bill Text download pdf

co-Sponsors

multi-Sponsors

2015-A2063A - Details

2015-A2063A - Summary

2015-A2063A - Bill Text download pdf

co-Sponsors

multi-Sponsors

2015-A2063B (ACTIVE) - Details

2015-A2063B (ACTIVE) - Summary

2015-A2063B (ACTIVE) - Bill Text download pdf

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Sponsored By

QUART

Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee

Actions

Bill Amendments

co-Sponsors

Michael Blake

Latoya Joyner

William Colton

Walter T. Mosley

multi-Sponsors

James F. Brennan

Anthony Brindisi

Aileen Gunther

Earlene Hooper

2015-A2063 - Details

2015-A2063 - Summary

2015-A2063 - Bill Text download pdf

co-Sponsors

Michael Blake

Latoya Joyner

William Colton

Walter T. Mosley

multi-Sponsors

James F. Brennan

Anthony Brindisi

Aileen Gunther

Earlene Hooper

2015-A2063A - Details

2015-A2063A - Summary

2015-A2063A - Bill Text download pdf

co-Sponsors

Michael Blake

Latoya Joyner

William Colton

Walter T. Mosley

multi-Sponsors

James F. Brennan

Anthony Brindisi

Aileen Gunther

Earlene Hooper

2015-A2063B (ACTIVE) - Details

2015-A2063B (ACTIVE) - Summary

2015-A2063B (ACTIVE) - Bill Text download pdf

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