Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Mar 10, 2020 | referred to ways and means delivered to assembly passed senate |
Feb 27, 2020 | advanced to third reading |
Feb 26, 2020 | 2nd report cal. |
Feb 25, 2020 | 1st report cal.475 |
Jan 08, 2020 | referred to finance returned to senate died in assembly |
Jun 13, 2019 | referred to ways and means delivered to assembly passed senate ordered to third reading cal.1362 committee discharged and committed to rules |
May 21, 2019 | referred to finance |
senate Bill S6165
Sponsored By
James Sanders Jr.
(D) 10th Senate District
Archive: Last Bill Status - Passed Senate
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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S6165 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7688
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §217, St Fin L
S6165 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6165 SPONSOR: SANDERS TITLE OF BILL: An act to amend the state finance law, in relation to the Excelsior Linked Deposit Program PURPOSE OF BILL: The proposed legislation amends the Excelsior Linked Deposit program to increase the lifetime cap on the total amount of money a company may borrow in the program from $2 million to $5 million and to remove the current $2 million limit on the maximum loan amount a company may receive under the program. SUMMARY OF PROVISIONS: Section one of the proposed legislation amends the state finance law to increase the lifetime cap on the total amount of money a company may borrow in the program from $2 million to $5 million. It also removes the current $2 million limit on the maximum loan amount a company may receive under the program.
S6165 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6165 2019-2020 Regular Sessions I N S E N A T E May 21, 2019 ___________ Introduced by Sen. SANDERS -- (at request of the Empire State Develop- ment) -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the state finance law, in relation to the Excelsior Linked Deposit Program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 217 of the state finance law, as amended by section 1 of part H of chapter 60 of the laws of 2011, is amended to read as follows: § 217. Linked loans. Linked loans shall be made by lenders pursuant to the program only to eligible businesses in connection with eligible projects. [A linked loan shall be limited to a maximum amount of two million dollars.] An eligible business may receive more than one linked loan. During the life of the linked loan program, the total amount of money that a business can borrow from the linked program is [two] FIVE million dollars. The credit decision for making a linked loan shall be made solely by the lender. Notwithstanding the length of the term of a linked loan, the linked deposit relating to the linked loan shall be for a period of not more than four years. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09724-01-9
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