S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8935
 
                           I N  A S S E M B L Y
 
                              January 8, 2018
                                ___________
 
 Introduced by M. of A. THIELE -- 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 the regional revolving loan program
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 20 of section 16-a of section 1 of chapter  174
 of  the  laws of 1968, constituting the New York state urban development
 corporation act, as amended by a chapter of the laws of  2017,  amending
 the  New  York  state  urban development corporation act relating to the
 regional revolving loan program, as proposed in legislative bill numbers
 S. 4046 and A.  4253, is amended to read as follows:
   (20) Reporting. (a) The  lending  organization  shall  submit  to  the
 corporation  annual  reports  stating: the number of program loans made;
 the amount of program funding used for loans; the use of  loan  proceeds
 by  the borrower; the number of jobs created or retained; [a description
 of the economic development generated;] the status of  each  outstanding
 program  loan, including fund balance; and such other information as the
 corporation may require.
   (b) The corporation shall, on or before October  1,  1988  and  on  or
 before  each  October  first thereafter, submit a report to the governor
 and the  legislature  on  the  operations  and  accomplishments  of  the
 regional  revolving loan program. Such report shall include a summary of
 the information contained in the reports submitted pursuant to  subdivi-
 sion  sixteen of this section and of the results of the audits performed
 by the corporation pursuant to subdivision nineteen of this section, and
 shall set forth the status of the regional revolving  loan  program  for
 the previous fiscal year, including grants to the regional corporations,
 earnings and account balances as reported to the corporation. The report
 to  be  submitted on October 1, 2005 and on or before each October first
 thereafter shall be consolidated with the annual program report  of  the
 corporation  required under the provisions of subdivision (b) of section
 thirty of this act, as amended.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD04124-02-8

 A. 8935                             2
 
   (c) Beginning [January] APRIL 1, [2018] 2019, [notwithstanding any law
 to the contrary,] the corporation  shall  publish  on  its  website  THE
 INFORMATION  CONTAINED  IN  THE annual reports required under paragraphs
 (a) and (b) of this subdivision  IN  AGGREGATE  FORM  OMITTING  BORROWER
 IDENTIFIABLE INFORMATION.
   §  2.  Subparagraphs (i) and (ii) of paragraph (i) of subdivision 2 of
 section 16-c of section 1 of chapter 174 of the laws of 1968, constitut-
 ing the New York state urban development corporation act, as added by  a
 chapter  of the laws of 2017, amending the New York state urban develop-
 ment corporation act relating to the regional revolving loan program, as
 proposed in legislative bill numbers S. 4046 and A. 4253, are amended to
 read as follows:
   (i) The lending organization shall submit to  the  corporation  annual
 reports stating: the number of program loans made; the amount of program
 funding  used  for  loans; the use of loan proceeds by the borrower; the
 number of jobs created or  retained;  [a  description  of  the  economic
 development  generated;]  the  status  of each outstanding program loan,
 including fund balance; and such other information  as  the  corporation
 may require.
   (ii)  Beginning  [January]  APRIL 1, [2018] 2019, [notwithstanding any
 law to the contrary,] the corporation shall publish on its  website  THE
 INFORMATION  CONTAINED IN THE annual reports required under subparagraph
 (i) of this paragraph IN AGGREGATE FORM OMITTING  BORROWER  IDENTIFIABLE
 INFORMATION.
   §  3.  Paragraph  (e) of subdivision 3 of section 16-c of section 1 of
 chapter 174 of the laws of 1968, constituting the New York  state  urban
 development  corporation act, as added by a chapter of the laws of 2017,
 amending the New York state urban development corporation  act  relating
 to  the regional revolving loan program, as proposed in legislative bill
 numbers S. 4046 and A. 4253, is amended to read as follows:
   (e)(i) The lending organization shall submit to the corporation annual
 reports stating: the number of program loans made; the amount of program
 funding used for loans; the use of loan proceeds by  the  borrower;  the
 number  of  jobs  created  or  retained;  [a description of the economic
 development generated;] the status of  each  outstanding  program  loan,
 including  fund  balance;  and such other information as the corporation
 may require.
   (ii) Beginning [January] APRIL 1, [2018]  2019,  [notwithstanding  any
 law  to  the contrary,] the corporation shall publish on its website THE
 INFORMATION CONTAINED IN THE annual reports required under  subparagraph
 (i)  of  this paragraph IN AGGREGATE FORM OMITTING BORROWER IDENTIFIABLE
 INFORMATION.
   § 4. Paragraph (c) of subdivision 14 of section 16-d of section  1  of
 chapter  174  of the laws of 1968, constituting the New York state urban
 development corporation act, as added by a chapter of the laws of  2017,
 amending  the  New York state urban development corporation act relating
 to the regional revolving loan program, as proposed in legislative  bill
 numbers S. 4046 and A. 4253, is amended to read as follows:
   (c) (i) The lending organization shall submit to the corporation annu-
 al  reports  stating:  the  number  of program loans made; the amount of
 program funding used for loans; the use of loan proceeds by the  borrow-
 er;  the  number  of  jobs  created  or  retained; [a description of the
 economic development generated;] the status of each outstanding  program
 loan,  including  fund balance; and such other information as the corpo-
 ration may require.

 A. 8935                             3
 
   (ii) Beginning [January] APRIL 1, [2018]  2019,  [notwithstanding  any
 law  to  the contrary,] the corporation shall publish on its website THE
 INFORMATION CONTAINED IN THE annual reports required  under  this  para-
 graph  and  paragraphs (a) and (b) of this subdivision IN AGGREGATE FORM
 OMITTING BORROWER IDENTIFIABLE INFORMATION.
   §  5. Subdivisions 14 and 14-a of section 16-t of section 1 of chapter
 174 of the laws of 1968, constituting the New York state urban  develop-
 ment  corporation act, subdivision 14 as amended and subdivision 14-a as
 added by a chapter of the laws of 2017,  amending  the  New  York  state
 urban  development  corporation  act  relating to the regional revolving
 loan program, as proposed in legislative bill numbers  S.  4046  and  A.
 4253, are amended to read as follows:
   14.  The  lending  organization shall submit to the corporation annual
 reports stating: the number of program loans made; the amount of program
 funding used for loans; the use of loan proceeds by  the  borrower;  the
 number  of  jobs  created  or  retained;  [a description of the economic
 development generated;] the status of  each  outstanding  program  loan,
 including  fund  balance;  and such other information as the corporation
 may require.
   14-a. Beginning [January] APRIL 1, [2018] 2019,  [notwithstanding  any
 law  to  the contrary,] the corporation shall publish on its website THE
 INFORMATION CONTAINED IN THE annual reports required  under  subdivision
 fourteen  of  this section IN AGGREGATE FORM OMITTING BORROWER IDENTIFI-
 ABLE INFORMATION.
   § 6. This act shall take effect on the  same  date  and  in  the  same
 manner  as  a  chapter  of the laws of 2017, amending the New York state
 urban development corporation act relating  to  the  regional  revolving
 loan  program,  as  proposed  in legislative bill numbers S. 4046 and A.
 4253, takes effect.