Senate Bill S1425

2021-2022 Legislative Session

Establishes an economic grant program for the Second Avenue Subway construction project area

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Sponsored By

Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee


  • 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

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2021-S1425 (ACTIVE) - Details

See Assembly Version of this Bill:
A9489
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §16-bb, UDC Act; add §131-a, Ec Dev L
Versions Introduced in Other Legislative Sessions:
2009-2010: A6137
2011-2012: A1116, A9021
2013-2014: A1514
2015-2016: A990
2017-2018: A674
2019-2020: S3908, A2545
2023-2024: S808, A540

2021-S1425 (ACTIVE) - Summary

Establishes an economic development grant program for the Second Avenue Subway construction project area; defines micro business.

2021-S1425 (ACTIVE) - Sponsor Memo

2021-S1425 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1425
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 12, 2021
                                ___________
 
 Introduced  by  Sen. SERRANO -- 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 establishing a Second Avenue Subway construction economic
   development grant program; and to amend the economic development  law,
   in relation to the definition of micro business
 
   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. SECOND AVENUE SUBWAY CONSTRUCTION ECONOMIC DEVELOPMENT  GRANT
 PROGRAM. (1) THERE IS HEREBY CREATED A SECOND AVENUE SUBWAY CONSTRUCTION
 ECONOMIC  DEVELOPMENT  GRANT PROGRAM FOR THE PURPOSE OF PROVIDING FINAN-
 CIAL AND TECHNICAL ASSISTANCE TO BUSINESSES LOCATED  WITHIN  THE  SECOND
 AVENUE   SUBWAY  CONSTRUCTION  BUSINESS  ZONE  AREA  DURING  PERIODS  OF
 CONSTRUCTION.
   (2) FOR THE PURPOSES OF THIS SECTION  THE  FOLLOWING  WORDS  OR  TERMS
 SHALL MEAN AS FOLLOWS:
   (A) "SMALL BUSINESS" SHALL HAVE THE SAME MEANING AS DEFINED IN SECTION
 131 OF THE ECONOMIC DEVELOPMENT LAW.
   (B) "QUALIFIED BUSINESS" SHALL MEAN A SMALL BUSINESS OR MICRO BUSINESS
 OPERATING  WITHIN  A  ONE HUNDRED FIFTY FOOT RADIUS OF THE BUSINESS ZONE
 AREA DURING A PERIOD OF AUTHORIZED CONSTRUCTION, AND THE BUSINESS HAS  A
 DEMONSTRATED LOSS.
   (C) "BUSINESS ZONE AREA" SHALL MEAN:
   (I)  AN  AREA  IN  WHICH  THE CHAIR OF THE CORPORATION DETERMINES THAT
 CONSTRUCTION ON THE SECOND AVENUE SUBWAY PROJECT HAS OCCURRED  THAT  HAS
 BEEN  CERTIFIED  BY THE COMMISSIONER FOR THE METROPOLITAN TRANSPORTATION
 AUTHORITY; OR
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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