senate Bill S844A

2019-2020 Legislative Session

Relates to the small business regional revolving loan program

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Current 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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Actions

view actions (10)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 10, 2020 referred to small business
delivered to assembly
passed senate
Mar 04, 2020 advanced to third reading
Mar 03, 2020 2nd report cal.
Mar 02, 2020 1st report cal.507
Jan 08, 2020 referred to corporations, authorities and commissions
Apr 15, 2019 print number 844a
Apr 15, 2019 amend and recommit to corporations, authorities and commissions
Jan 09, 2019 referred to corporations, authorities and commissions

Votes

view votes

Mar 2, 2020 - Corporations, Authorities and Commissions committee Vote

S844A
5
0
committee
5
Aye
0
Nay
1
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Corporations, Authorities and Commissions committee vote details

Corporations, Authorities and Commissions Committee Vote: Mar 2, 2020

aye wr (1)
excused (1)

S844 - Details

See Assembly Version of this Bill:
A7360
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd §§16-a, 16-c, 16-e & 16-l, UDC Act
Versions Introduced in Other Legislative Sessions:
2011-2012: S1868
2013-2014: S1742
2015-2016: S3567
2017-2018: S796

S844 - Summary

Relates to the small business regional revolving loan program.

S844 - Sponsor Memo

S844 - Bill Text download pdf


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

                                   844

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             January 9, 2019
                               ___________

Introduced  by Sen. BENJAMIN -- 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 the small business regional revolving loan trust fund and
  the small business regional revolving loan program

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

  Section  1.  Statement  of  legislative intent. The legislature hereby
finds and declares that small businesses are the  economic  backbone  of
the  state  and  the  source  of a majority of new jobs. The legislature
further finds that such businesses often have difficulty obtaining small
amounts of capital from traditional banking organizations that is neces-
sary to start-up, improve, or expand operations. State assistance in the
form of loans to meet such capital gaps would enable the  formation  and
expansion  of  small  businesses across the state and, thus, provide job
opportunities to the state's citizens.  The  legislature  further  finds
that  the  existing  regional  revolving loan program of the state urban
development corporation demonstrated  that  it  is  more  efficient  and
effective  to  provide such loans through regional not-for-profit corpo-
rations that are  knowledgeable  about  local  businesses  and  economic
conditions.  Therefore,  it  is the intent of the legislature to improve
job opportunities in the state by  revitalizing  the  urban  development
corporation's regional revolving loan program and re-naming it the small
business regional revolving loan program.
  § 2. The New York state urban development corporation created by chap-
ter  174  of  the  laws of 1968 is hereby directed to audit, pursuant to
subdivision (19) of section 16-a of section 1 of the  urban  development
corporation  act,  each  existing  regional  corporation administering a
small business regional revolving loan fund and to either recertify such
regional corporation or decertify such regional corporation and competi-

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

Co-Sponsors

S844A (ACTIVE) - Details

See Assembly Version of this Bill:
A7360
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd §§16-a, 16-c, 16-e & 16-l, UDC Act
Versions Introduced in Other Legislative Sessions:
2011-2012: S1868
2013-2014: S1742
2015-2016: S3567
2017-2018: S796

S844A (ACTIVE) - Summary

Relates to the small business regional revolving loan program.

S844A (ACTIVE) - Sponsor Memo

S844A (ACTIVE) - Bill Text download pdf


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

                                 844--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                             January 9, 2019
                               ___________

Introduced  by Sen. BENJAMIN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and   Commissions  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the New York state urban development corporation act, in
  relation to the small business regional revolving loan trust fund  and
  the small business regional revolving loan program

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

  Section 1. Statement of legislative  intent.  The  legislature  hereby
finds  and  declares  that small businesses are the economic backbone of
the state and the source of a majority  of  new  jobs.  The  legislature
further finds that such businesses often have difficulty obtaining small
amounts of capital from traditional banking organizations that is neces-
sary to start-up, improve, or expand operations. State assistance in the
form  of  loans to meet such capital gaps would enable the formation and
expansion of small businesses across the state and,  thus,  provide  job
opportunities  to  the  state's  citizens. The legislature further finds
that the existing regional revolving loan program  of  the  state  urban
development  corporation  demonstrated  that  it  is  more efficient and
effective to provide such loans through regional  not-for-profit  corpo-
rations  that  are  knowledgeable  about  local  businesses and economic
conditions. Therefore, it is the intent of the  legislature  to  improve
job  opportunities  in  the  state by revitalizing the urban development
corporation's regional revolving loan program and re-naming it the small
business regional revolving loan program.
  § 2. The New York state urban development corporation created by chap-
ter 174 of the laws of 1968 is hereby directed  to  audit,  pursuant  to
subdivision  (19)  of section 16-a of section 1 of the urban development
corporation act, each  existing  regional  corporation  administering  a
small business regional revolving loan fund and to either recertify such

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

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