senate Bill S4688A

2021-2022 Legislative Session

Establishes a small business grant program

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee


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

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Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 18, 2021 print number 4688a
Feb 18, 2021 amend and recommit to corporations, authorities and commissions
Feb 08, 2021 referred to corporations, authorities and commissions

Co-Sponsors

S4688 - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §16-bb, UDC Act

S4688 - Summary

Establishes a small business grant program worth up to one hundred million dollars for businesses forced to close during the COVID-19 pandemic.

S4688 - Sponsor Memo

S4688 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4688
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 8, 2021
                                ___________
 
 Introduced  by Sen. HARCKHAM -- 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 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
 BE WORTH UP TO ONE HUNDRED MILLION DOLLARS AND SHALL PROVIDE SMALL BUSI-
 NESSES,  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.
                                                            LBD09516-01-1

Co-Sponsors

S4688A (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §16-bb, UDC Act

S4688A (ACTIVE) - Summary

Establishes a small business grant program worth up to one hundred million dollars for businesses forced to close during the COVID-19 pandemic.

S4688A (ACTIVE) - Sponsor Memo

S4688A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4688--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 8, 2021
                                ___________
 
 Introduced by Sens. HARCKHAM, SKOUFIS -- 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 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.

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