senate Bill S8319

2019-2020 Legislative Session

Relates to creating the coronavirus business interruption and municipal recovery program

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Sponsored By

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


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 11, 2020 referred to commerce, economic development and small business

Co-Sponsors

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S8319 (ACTIVE) - Details

Current Committee:
Senate Commerce, Economic Development And Small Business
Law Section:
Economic Development
Versions Introduced in 2021-2022 Legislative Session:
S2028

S8319 (ACTIVE) - Summary

Creates the coronavirus business interruption and municipal recovery program to provide grants through the empire state development corporation to businesses and municipalities which sustain economic losses as a result of the COVID-19 emergency; authorizes the issuance of bonds to fund the grants.

S8319 (ACTIVE) - Sponsor Memo

S8319 (ACTIVE) - Bill Text download pdf


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

                                  8319

                            I N  S E N A T E

                              May 11, 2020
                               ___________

Introduced  by  Sens. AKSHAR, AMEDORE, BORRELLO, BOYLE, FLANAGAN, FUNKE,
  GALLIVAN, GRIFFO, HELMING, JACOBS,  JORDAN,  LANZA,  LAVALLE,  LITTLE,
  O'MARA, ORTT, RANZENHOFER, RITCHIE, ROBACH, SERINO, SEWARD, TEDISCO --
  read  twice  and  ordered printed, and when printed to be committed to
  the Committee on Commerce, Economic Development and Small Business

AN ACT to create the coronavirus  business  interruption  and  municipal
  recovery  program  to  provide grants to businesses and municipalities
  which sustain economic losses as a result of the COVID-19 emergency

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

  Section  1.  There  is  hereby created the coronavirus business inter-
ruption and municipal recovery program.
  1. Definitions. The following terms shall have the following meanings:
  (a) The term "for profit business" shall mean any sole proprietorship,
partnership, limited liability company or  corporation  operating  as  a
business for profit in New York State.
  (b)  The term "not-for-profit corporation" shall mean any not-for-pro-
fit corporation operating or providing services in New York State.
  (c) The term "authority" shall mean the urban development corporation,
operating as the empire state development corporation.
  (d) The  term  "municipality"  shall  mean  any  county,  city,  town,
village, school district, fire district or special district.
  (e)  The  term  "direct  economic  loss"  shall mean the amount of the
reduction of revenue or income sustained by a  for  profit  business  or
not-for-profit  corporation, as a result of a coronavirus event, for any
month during the coronavirus period, as determined  in  accordance  with
the private sector loss formula.
  (f)  The  term "municipal loss" shall mean the amount of the reduction
of revenue, or increase in municipal expenses  sustained  by  a  munici-
pality,  as  a  result  of a coronavirus event, for any month during the
coronavirus period, as determined  in  accordance  with  the  government
sector loss formula.
  (g)  The term "coronavirus period" shall mean the period between Janu-
ary 1, 2020 through April 30, 2021.

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

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