Senate Bill S7423

Vetoed By Governor
2017-2018 Legislative Session

Relates to assistance for certain small businesses

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Sponsored By

Archive: Last Bill Status - Vetoed by Governor


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Vetoed By Governor
  • Signed By Governor

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2017-S7423 (ACTIVE) - Details

See Assembly Version of this Bill:
A9524
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd §16-m, UDC Act

2017-S7423 (ACTIVE) - Summary

Relates to assistance for certain small businesses including dry cleaners and those that practice nail specialty for necessary code related improvements.

2017-S7423 (ACTIVE) - Sponsor Memo

2017-S7423 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7423
 
                             I N  S E N A T E
 
                             January 17, 2018
                                ___________
 
 Introduced  by  Sen.  AVELLA -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 AN ACT to amend the New York state urban development corporation act, in
   relation to assistance for certain small businesses
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 16-m 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  paragraph  (o)  to  read  as
 follows:
   (O)  ASSISTANCE TO SMALL BUSINESSES ENGAGED IN DRY CLEANING OR APPEAR-
 ANCE ENHANCEMENT BUSINESSES WHICH PRACTICE NAIL SPECIALTY TO MAKE  CAPI-
 TAL IMPROVEMENTS THROUGH GRANTS AND FLEXIBLE FINANCING PROGRAMS, INCLUD-
 ING,  BUT NOT LIMITED TO, LOAN LOSS RESERVE AND REVOLVING LOAN PROGRAMS,
 WORKING CAPITAL LOANS, WORKING CAPITAL LOAN GUARANTEES, OR OTHER  FLEXI-
 BLE  FINANCING PROGRAMS THAT LEVERAGE TRADITIONAL FINANCING. SUCH FINAN-
 CIAL ASSISTANCE SHALL BE USED TO ASSIST:   (I) DRY  CLEANING  BUSINESSES
 FOR  THE  PURCHASE AND INSTALLATION OF NON-PERCHLORETHYLENE MACHINES AND
 SPRINKLER SYSTEMS TO COMPLY WITH STATE AND LOCAL CODES, RULES AND  REGU-
 LATIONS;  AND (II) APPEARANCE ENHANCEMENT BUSINESSES WHICH PRACTICE NAIL
 SPECIALTY TO MAKE CAPITAL IMPROVEMENTS AND UPGRADES TO MECHANICAL VENTI-
 LATION SYSTEMS THAT ARE NECESSARY TO  COMPLY  WITH  FEDERAL,  STATE  AND
 LOCAL  INDOOR AIR QUALITY CODES, RULES AND REGULATIONS. THE CORPORATION,
 IN CONSULTATION  WITH  THE  ENVIRONMENTAL  FACILITIES  CORPORATION,  THE
 DEPARTMENT  OF  ENVIRONMENTAL CONSERVATION AND THE DEPARTMENT OF HEALTH,
 SHALL PROMULGATE ALL NECESSARY RULES AND REGULATIONS TO  FACILITATE  AND
 ADMINISTER  SUCH ASSISTANCE PROGRAM. FOR THE PURPOSES OF THIS PARAGRAPH,
 "SMALL BUSINESSES" SHALL HAVE THE SAME MEANING AS DEFINED IN SECTION ONE
 HUNDRED THIRTY-ONE OF THE ECONOMIC DEVELOPMENT LAW.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have  become a law; provided, however, the amendments to subdivision one
 of section 16-m of section 1 of chapter 174 of the laws of 1968, consti-
 tuting the New York state urban  development  corporation  act  made  by
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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