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 |
Feb 01, 2022 |
referred to economic development delivered to assembly passed senate |
Jan 31, 2022 |
advanced to third reading |
Jan 26, 2022 |
2nd report cal. |
Jan 25, 2022 |
1st report cal.326 |
Jan 05, 2022 |
referred to corporations, authorities and commissions returned to senate died in assembly |
Mar 10, 2021 |
referred to economic development delivered to assembly passed senate |
Feb 22, 2021 |
advanced to third reading |
Feb 10, 2021 |
2nd report cal. |
Feb 09, 2021 |
1st report cal.319 |
Jan 06, 2021 |
referred to corporations, authorities and commissions |
Senate Bill S571
Signed By Governor2021-2022 Legislative Session
Sponsored By
(D) 10th Senate District
Archive: Last Bill Status - 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
(D, WF) 55th Senate District
(D, WF) 41st Senate District
(D, IP, WF) Senate District
(D) 50th Senate District
2021-S571 (ACTIVE) - Details
2021-S571 (ACTIVE) - Sponsor Memo
BILL NUMBER: S571 SPONSOR: SANDERS TITLE OF BILL: 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 refi- nancing existing debt PURPOSE: Allows businesses to use funds received from Minority and Women-Owned Business Development and Lending Program of the Empire State Development Corporation for the purpose of refinancing existing debt. SUMMARY OF PROVISIONS: Section 1. Subparagraphs (vi) and (vii) of paragraph (c) of subdivision 1 of section 16-c of section 1 of Chapter 174 of the Laws of 1968, constituting the urban development corporation act, as added by chapter
2021-S571 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 571 2021-2022 Regular Sessions I N S E N A T E (PREFILED) January 6, 2021 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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