Assembly Bill A9801A

2023-2024 Legislative Session

Requires uniform criteria for evaluation and selection of grants and loans by the New York state industrial development agency

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Sponsored By

Current Bill Status - In Assembly 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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Bill Amendments

co-Sponsors

2023-A9801 - Details

Current Committee:
Assembly Local Governments
Law Section:
General Municipal Law
Laws Affected:
Amd §858, add §859-c, Gen Muni L

2023-A9801 - Summary

Relates to loans and grants by industrial development agencies; requires uniform criteria for evaluation and selection of an eligible entity for a loan; defines terms; outlines such criteria.

2023-A9801 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9801
 
                           I N  A S S E M B L Y
 
                               April 9, 2024
                                ___________
 
 Introduced by M. of A. THIELE -- read once and referred to the Committee
   on Local Governments
 
 AN  ACT to amend the general municipal law, in relation to the powers of
   the New York state industrial development agency and certain loans and
   grants to eligible entities
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 17 of section 858 of the general municipal law,
 as renumbered by chapter 356 of the laws of 1993, is renumbered subdivi-
 sion 19 and two new subdivisions 17 and 18 are added to read as follows:
   (17)  TO PROVIDE LOANS IN ACCORDANCE WITH SECTION EIGHT HUNDRED FIFTY-
 NINE-C OF THIS ARTICLE, TO ANY ELIGIBLE ENTITY AS DEFINED IN PARAGRAPH A
 OF SUBDIVISION ONE OF SECTION EIGHT HUNDRED FIFTY-NINE-C OF THIS  TITLE,
 PROVIDED  SUCH LOAN IS MEMORIALIZED IN AN APPROPRIATE LOAN AGREEMENT AND
 FURTHER PROVIDED THAT THE LOAN PROCEEDS ARE USED IN FURTHERANCE  OF  THE
 AGENCY'S CORPORATE PURPOSES;
   (18)  TO PROVIDE GRANTS TO ANY ELIGIBLE ENTITY AS DEFINED IN PARAGRAPH
 A OF SUBDIVISION ONE OF  SECTION  EIGHT  HUNDRED  FIFTY-NINE-C  OF  THIS
 TITLE,  PROVIDED  SAID  GRANT  IS  MEMORIALIZED  IN AN APPROPRIATE GRANT
 AGREEMENT STIPULATING THE SERVICES TO BE PROVIDED IN FURTHERANCE OF  THE
 AGENCY'S  CORPORATE PURPOSES, TO BE PROVIDED IN A MANNER CONSISTENT WITH
 UNIFORM CRITERIA, AS DEFINED IN SUBDIVISION TWO OF SECTION EIGHT HUNDRED
 FIFTY-NINE-C OF THIS TITLE, SAID UNIFORM CRITERIA TO BE ESTABLISHED  FOR
 THE EVALUATION AND SELECTION OF ELIGIBLE ENTITIES;
   §  2.  The  general  municipal  law is amended by adding a new section
 859-c to read as follows:
   § 859-C. UNIFORM CRITERIA FOR EVALUATION  AND  SELECTION  OF  ELIGIBLE
 ENTITIES  FOR  LOANS. 1. FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "ELIGIBLE ENTITY" SHALL MEAN A SMALL  BUSINESS  OR  NOT-FOR-PROFIT
 WITH  NOT  MORE  THAN  FIFTY EMPLOYEES THAT IS PHYSICALLY LOCATED IN THE
 JURISDICTION OF THE APPLICABLE AGENCY.
   (B) "SMALL BUSINESS" MEANS A BUSINESS WITH NOT MORE THAN FIFTY EMPLOY-
 EES.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2023-A9801A (ACTIVE) - Details

Current Committee:
Assembly Local Governments
Law Section:
General Municipal Law
Laws Affected:
Amd §858, add §859-c, Gen Muni L

2023-A9801A (ACTIVE) - Summary

Relates to loans and grants by industrial development agencies; requires uniform criteria for evaluation and selection of an eligible entity for a loan; defines terms; outlines such criteria.

2023-A9801A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9801--A
 
                           I N  A S S E M B L Y
 
                               April 9, 2024
                                ___________
 
 Introduced  by  M.  of A. THIELE, JONES -- read once and referred to the
   Committee on Local Governments -- committee discharged, bill  amended,
   ordered reprinted as amended and recommitted to said committee
 
 AN  ACT to amend the general municipal law, in relation to the powers of
   industrial development agencies and certain loans and grants to eligi-
   ble entities

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 17 of section 858 of the general municipal law,
 as renumbered by chapter 356 of the laws of 1993, is renumbered subdivi-
 sion 19 and two new subdivisions 17 and 18 are added to read as follows:
   (17)  TO PROVIDE LOANS IN ACCORDANCE WITH SECTION EIGHT HUNDRED FIFTY-
 NINE-C OF THIS ARTICLE, TO ANY ELIGIBLE ENTITY AS DEFINED IN PARAGRAPH A
 OF SUBDIVISION ONE OF SECTION EIGHT HUNDRED FIFTY-NINE-C OF THIS  TITLE,
 PROVIDED  SUCH LOAN IS MEMORIALIZED IN AN APPROPRIATE LOAN AGREEMENT AND
 FURTHER PROVIDED THAT THE LOAN PROCEEDS ARE USED IN FURTHERANCE  OF  THE
 AGENCY'S CORPORATE PURPOSES;
   (18)  TO PROVIDE GRANTS TO ANY ELIGIBLE ENTITY AS DEFINED IN PARAGRAPH
 A OF SUBDIVISION ONE OF  SECTION  EIGHT  HUNDRED  FIFTY-NINE-C  OF  THIS
 TITLE,  PROVIDED  SAID  GRANT  IS  MEMORIALIZED  IN AN APPROPRIATE GRANT
 AGREEMENT STIPULATING THE SERVICES TO BE PROVIDED IN FURTHERANCE OF  THE
 AGENCY'S  CORPORATE PURPOSES, TO BE PROVIDED IN A MANNER CONSISTENT WITH
 UNIFORM CRITERIA, AS DEFINED IN SUBDIVISION TWO OF SECTION EIGHT HUNDRED
 FIFTY-NINE-C OF THIS TITLE, SAID UNIFORM CRITERIA TO BE ESTABLISHED  FOR
 THE EVALUATION AND SELECTION OF ELIGIBLE ENTITIES;
   §  2.  The  general  municipal  law is amended by adding a new section
 859-c to read as follows:
   § 859-C. UNIFORM CRITERIA FOR EVALUATION  AND  SELECTION  OF  ELIGIBLE
 ENTITIES  FOR  LOANS. 1. FOR THE PURPOSES OF THIS SECTION, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "ELIGIBLE ENTITY" SHALL MEAN A SMALL  BUSINESS  OR  NOT-FOR-PROFIT
 WITH  NOT  MORE  THAN  FIFTY EMPLOYEES THAT IS PHYSICALLY LOCATED IN THE
 JURISDICTION OF THE APPLICABLE AGENCY.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14908-02-4
              

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