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Senate Bill S7003

2021-2022 Legislative Session

Relates to the excelsior linked deposit program

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Archive: Last Bill Status - In Senate Committee Finance Committee

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2021-S7003 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Amd §213, St Fin L

2021-S7003 (ACTIVE) - Summary

Relates to the excelsior linked deposit program.

2021-S7003 (ACTIVE) - Sponsor Memo

2021-S7003 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7003
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               May 21, 2021
                                ___________
 
 Introduced  by  Sen. SANDERS -- (at request of the Empire State Develop-
   ment) -- read twice and  ordered  printed,  and  when  printed  to  be
   committed to the Committee on Finance
 
 AN  ACT  to  amend  the  state finance law, in relation to the excelsior
   linked deposit program

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subparagraph  6  of  paragraph  (g)  of subdivision 11 of
 section 213 of the state finance law, as added by section 1 of  part  HH
 of chapter 59 of the laws of 2013, is amended and a new paragraph (h) is
 added to read as follows:
   (6) small scale systems integration and packaging[.]; OR
   (H) A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION.
   §  2.  Paragraph  (e)  of  subdivision  12 of section 213 of the state
 finance law, as added by chapter 705 of the laws of 1993, is amended and
 a new paragraph (f) is added to read as follows:
   (e) for certified minority-and  women-owned  businesses,  projects  to
 provide  financing necessary to carry out a procurement contract with an
 agency or authority or other entity of  the  state  or  federal  govern-
 ment[.]; OR
   (F)  PROJECTS  IN  WHICH  COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS
 MAKE LOANS TO MANUFACTURING, AGRICULTURAL AND SERVICE FIRMS.
   § 3. Section 213 of the state finance law is amended by adding  a  new
 subdivision 24 to read as follows:
   24.  "COMMUNITY  DEVELOPMENT FINANCIAL INSTITUTION" MEANS AN ORGANIZA-
 TION AS DEFINED IN 12 U.S.C. 4702(5)(A).
   § 4. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09545-01-1

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