Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 08, 2023 |
approval memo.45 signed chap.699 |
Nov 29, 2023 |
delivered to governor |
Jun 07, 2023 |
returned to senate passed assembly ordered to third reading rules cal.652 substituted for a6716a |
Jun 05, 2023 |
referred to ways and means delivered to assembly passed senate ordered to third reading cal.1458 committee discharged and committed to rules |
Jun 01, 2023 |
print number 1690a |
Jun 01, 2023 |
amend and recommit to finance |
May 16, 2023 |
reported and committed to finance |
Jan 13, 2023 |
referred to banks |
Senate Bill S1690
Signed By Governor2023-2024 Legislative Session
Sponsored By
(D) 10th Senate District
Current 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
Bill Amendments
2023-S1690 - Details
2023-S1690 - Summary
Relates to the capital access program; focuses on minority and women-owned business enterprises and small businesses located in highly distressed areas to assist them in processing and being approved for qualifying program loans; requires the engagement in outreach and marketing to financial institutions to increase awareness of the program.
2023-S1690 - Sponsor Memo
BILL NUMBER: S1690 SPONSOR: SANDERS TITLE OF BILL: An act to amend the banking law and the New York state urban development corporation act, in relation to the capital access program PURPOSE: This bill would expand the capacity of the Pursuit, a lending corpo- ration, so minority- and women-owned business enterprises (MBEs) have access to more capital. Additionally, this bill would require the New York State Department of Financial Services, the Empire State Develop- ment Corporation and the New York Business Development Corporation (now called the Pursuit Lending Corporation) to jointly establish underwrit- ing standards to assist minority business enterprises and small busi- nesses in highly distressed areas. SUMMARY OF PROVISIONS: Section 1: establish a program in cooperation with the empire state
2023-S1690 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1690 2023-2024 Regular Sessions I N S E N A T E January 13, 2023 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend the banking law and the New York state urban development corporation act, in relation to the capital access program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of subdivision 1 of section 212 of the bank- ing law, as amended by chapter 1 of the laws of 1994, is amended to read as follows: (b) The corporation shall undertake the following programs in further- ance of the above objectives: (i) establish regional offices at locations throughout New York, with sufficient staffing to advise, develop and package financial assistance for small and medium sized businesses; (ii) develop a comprehensive outreach program to increase the visibility and awareness of the corporation's programs, including allocating budget and staff to establish and maintain an aggressive and extensive marketing program of the corporation's program of assistance to small and medium sized businesses, providing for specific outreach to minority and women owned enterprises, and entering into cooperative relationships with local chambers of commerce, local development agen- cies, local development corporations and other community based financial intermediaries as set forth in subdivision three of this section; (iii) establish and operate, or affiliate with a small business investment company and a specialized small business investment company; [and] (iv) establish a pilot export financing program, using personnel from the private sector, to evaluate whether the corporation can play a signif- icant role in the growth of the export industry in the state AND (V) ESTABLISH A PROGRAM IN COOPERATION WITH THE EMPIRE STATE DEVELOPMENT CORPORATION THAT SHALL FOCUS ON SMALL BUSINESSES LOCATED IN HIGHLY DISTRESSED AREAS AND MINORITY BUSINESS ENTERPRISES AS SUCH DESIGNATIONS ARE DEFINED BY THE REGULATIONS OF THE NEW YORK STATE URBAN DEVELOPMENT EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05985-01-3
2023-S1690A (ACTIVE) - Details
2023-S1690A (ACTIVE) - Summary
Relates to the capital access program; focuses on minority and women-owned business enterprises and small businesses located in highly distressed areas to assist them in processing and being approved for qualifying program loans; requires the engagement in outreach and marketing to financial institutions to increase awareness of the program.
2023-S1690A (ACTIVE) - Sponsor Memo
BILL NUMBER: S1690A SPONSOR: SANDERS TITLE OF BILL: An act to amend the banking law and the New York state urban development corporation act, in relation to the capital access program PURPOSE: This bill would expand the capacity of the Pursuit, a lending corpo- ration, so minority- and women-owned business enterprises (MWBEs) have access to more capital. Additionally, this bill would require the New York State Department of Financial Services, the Empire State Develop- ment Corporation and the New York Business Development Corporation (now called the Pursuit Lending Corporation) to jointly establish underwrit- ing standards to assist minority business enterprises and small busi- nesses in highly distressed areas. SUMMARY OF PROVISIONS: Section 1: establish a program in cooperation with the empire state
2023-S1690A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1690--A 2023-2024 Regular Sessions I N S E N A T E January 13, 2023 ___________ Introduced by Sen. SANDERS -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- reported favora- bly from said committee and committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the banking law and the New York state urban development corporation act, in relation to the capital access program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of subdivision 1 of section 212 of the bank- ing law, as amended by chapter 1 of the laws of 1994, is amended to read as follows: (b) The corporation shall undertake the following programs in further- ance of the above objectives: (i) establish regional offices at locations throughout New York, with sufficient staffing to advise, develop and package financial assistance for small and medium sized businesses; (ii) develop a comprehensive outreach program to increase the visibility and awareness of the corporation's programs, including allocating budget and staff to establish and maintain an aggressive and extensive marketing program of the corporation's program of assistance to small and medium sized businesses, providing for specific outreach to minority and women owned enterprises, and entering into cooperative relationships with local chambers of commerce, local development agen- cies, local development corporations and other community based financial intermediaries as set forth in subdivision three of this section; (iii) establish and operate, or affiliate with a small business investment company and a specialized small business investment company; [and] (iv) establish a pilot export financing program, using personnel from the private sector, to evaluate whether the corporation can play a signif- icant role in the growth of the export industry in the state AND (V) ESTABLISH A PROGRAM IN COOPERATION WITH THE EMPIRE STATE DEVELOPMENT EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05985-02-3
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