S T A T E O F N E W Y O R K
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5408--A
2021-2022 Regular Sessions
I N A S S E M B L Y
February 16, 2021
___________
Introduced by M. of A. OTIS -- read once and referred to the Committee
on Small Business -- 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 establishing a small business grant program
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. 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 section 16-bb to read as follows:
§ 16-BB. NEW YORK SMALL BUSINESS GRANT PROGRAM. 1. THERE IS HEREBY
ESTABLISHED A NEW YORK STATE SMALL BUSINESS GRANT PROGRAM UNDER THE
PURVIEW OF THE EMPIRE STATE DEVELOPMENT CORPORATION. SUCH PROGRAM SHALL
NOT EXPEND MORE THAN ONE HUNDRED MILLION DOLLARS AND SHALL PROVIDE SMALL
BUSINESSES, AS DEFINED IN SECTION 131 OF THE ECONOMIC DEVELOPMENT LAW,
WITH GRANTS IN ORDER TO ASSIST SUCH BUSINESSES RECOVERING FROM THE
COVID-19 PANDEMIC.
2. THE ASSISTANCE PROVIDED UNDER THIS SECTION SHALL BE FUNDED BY ANY
AVAILABLE FEDERAL RELIEF FUNDS AVAILABLE TO THE STATE UP TO ONE HUNDRED
MILLION DOLLARS.
3. GRANTS MADE PURSUANT TO THIS SECTION SHALL, AS FAR AS PRACTICABLE,
BE EQUITABLY DISTRIBUTED AMONG ALL REGIONS OF THE STATE, REFLECTIVE OF
THE ECONOMIC IMPACT ON EACH REGION DUE TO THE CLOSURE OR LIMITATION OF
BUSINESS OPERATIONS DUE TO ANY EXECUTIVE ORDER ISSUED BY THE GOVERNOR
RELATED TO THE STATE DISASTER EMERGENCY DECLARED PURSUANT TO EXECUTIVE
ORDER 202 OF 2020.
4. THE EMPIRE STATE DEVELOPMENT CORPORATION SHALL CREATE AN APPLICA-
TION PROCESS FOR SUCH GRANTS, AND SHALL PROMULGATE RULES AND REGULATIONS
FOR AWARDING AND DISTRIBUTING GRANTS PURSUANT TO THIS SECTION; PROVIDED,
HOWEVER, THAT PREFERENCE IS GIVEN TO SMALL BUSINESSES THAT WERE FORCED
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09516-05-1
A. 5408--A 2
TO CLOSE DURING PHASE THREE OR PHASE FOUR OF THE STATE'S REOPENING PLAN
IN THE COUNTY OR REGION IN WHICH THE BUSINESS IS LOCATED.
§ 2. This act shall take effect on the thirtieth day after it shall
have become a law. Effective immediately, the addition, amendment and/or
repeal of any rule or regulation necessary for the implementation of
this act on its effective date are authorized to be made and completed
on or before such effective date.