Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Oct 06, 2022 |
approval memo.19 signed chap.568 |
Oct 05, 2022 |
delivered to governor |
May 24, 2022 |
returned to senate passed assembly ordered to third reading rules cal.402 substituted for a6420 |
May 24, 2022 |
substituted by s571 rules report cal.402 reported |
May 23, 2022 |
reported referred to rules |
May 10, 2022 |
reported referred to ways and means |
Jan 05, 2022 |
referred to economic development |
Mar 17, 2021 |
referred to economic development |
Assembly Bill A6420
Signed By Governor2021-2022 Legislative Session
Sponsored By
BICHOTTE HERMELYN
Archive: Last Bill Status Via S571 - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
Crystal Peoples-Stokes
Jo Anne Simon
Nathalia Fernandez
Charles Barron
2021-A6420 (ACTIVE) - Details
2021-A6420 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6420 2021-2022 Regular Sessions I N A S S E M B L Y March 17, 2021 ___________ Introduced by M. of A. BICHOTTE HERMELYN, PEOPLES-STOKES -- read once and referred to the Committee on Economic Development AN ACT to amend the urban development corporation act, in relation to allowing businesses to use funds received from the minority and women-owned business development and lending program for the purpose of refinancing existing debt THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (vii) of paragraph (c) of subdivision 1 of section 16-c of section 1 of chapter 174 of the laws of 1968, constitut- ing the urban development corporation act, as amended by section 1 of part AA of chapter 55 of the laws of 2014, is amended to read as follows: (vii) refinancing of debt or equity invested in an enterprise or project, UNLESS THE CHAIRPERSON OF THE CORPORATION FINDS THE TERMS OF THE ORIGINAL DEBT TO BE UNREASONABLE AS PROVIDED IN SUBPARAGRAPH (IX) OF PARAGRAPH (D) OF THIS SUBDIVISION. § 2. Subparagraphs (vii) and (viii) of paragraph (d) of subdivision 1 of section 16-c of section 1 of chapter 174 of the laws of 1968, consti- tuting the urban development corporation act, subparagraph (vii) as amended and subparagraph (viii) as added by section 1 of part AA of chapter 55 of the laws of 2014, are amended and a new subparagraph (ix) is added to read as follows: (vii) establish a comprehensive technical assistance program in coop- eration with the department of economic development to assist minority- and women-owned businesses and potential minority and women-entrepren- eurs; [and] (viii) notwithstanding any provision of law to the contrary, establish a minority- and women-owned business investment fund to provide critical financial support to foster the development of new and emerging ideas and products of minority- and women-owned business enterprises as well EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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