NY State Senate Bill 2023-S2008

Current Bill Status - In Senate Committee Commerce, Economic Development And Small Business 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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2024	referred to commerce, economic development and small business
Jan 18, 2023	referred to commerce, economic development and small business

2023-S2008 (ACTIVE) - Details

Current Committee:: Senate Commerce, Economic Development And Small Business
Law Section:: Labor
Versions Introduced in Other Legislative Sessions:: 2019-2020: S8364
2021-2022: S1596

2023-S2008 (ACTIVE) - Summary

Establishes the minority- and women-owned business protection program to provide grants with funding from the American Rescue Plan Act of 2021 to qualifying entities that have less than 100 employees per location, was in existence in New York state by the first day the state disaster emergency related to COVID-19 was declared by the governor, can document actual economic harm or revenue shortfall as a direct result of the pandemic, and has filed 2018, 2019 or 2020 tax returns.

2023-S2008 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S2008

SPONSOR: SANDERS
 
TITLE OF BILL:

An act establishing the minority- and women-owned business protection
program

 
PURPOSE:

This bill would establish the Minority- and Women-owned Business
Protection Program within the NYS Minority- and Women-owned Business
Enterprise (MWBE) Development and Lending Program to provide relief for
small businesses, including certified minority and women-owned busi-
nesses (MWBEs).

 
SUMMARY OF PROVISIONS:

Section 1: Legislative findings.

Section 2: Establishes the minority- and women-owned business protection
program.

Section 3: Eligibility. Specified entities in this section shall be
eligible for the program provided such entity has 100 employees or less
per location, was in existence in New York state by the first day the
state disaster emergency related to COVID-19 was declared by the gover-
nor, and can document actual economic harm or revenue short fall as a
direct result of the pandemic.

Section 4: Grants. Funds are used for payroll or 1099 employees, inter-
est on mortgages, rent, utilities and inventory.

Section 5: Oversight. Department of Financial Services shall have over-
sight in monitoring the mwbe protection program. The State Comptroller
shall have oversight of the loan program.

Section 6: Effective immediately.

 
JUSTIFICATION:

New York state and the nation have been hit hard by a worldwide COVID-19
pandemic. New York City has been the epicenter of the coronavirus with
thousands of lives lost since March 2020. Many local small businesses,
including minority and women-owned businesses (MWBE) in our state, did
not receive any federal funding under the federal Paycheck Protection
Program (PPP) in either of the two rounds of funding.

According to a report issued by the Federal Small Business Adminis-
tration Inspector General, the Small Business Administration (SBA) was
faulted in administering the PPP for not issuing guidelines for banks to
prioritize businesses in rural markets, companies that have only been in
business for two years or less, businesses owned by veterans minorities,
women, and economically disadvantaged individuals.  Moreover, the PPP
application did not include demographic information making it difficult
or nearly impossible to ever determine how much money went into the
markets Congress intended to prioritize and imposed a mandate Congress
did not require in authorizing this program.

As New York State is reopening regionally post COVID-19, many of our
small businesses, including MWBEs and farmers who did not receive any
PPP funding, are in desperate need of funding to employ and/or pay
staff, purchase inventory, pay rent and utilities to survive the
COVID19.

 
LEGISLATIVE HISTORY:

2020 REFERRED TO SENATE COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSI-
NESS

2020 referred to assembly small business

2021 REFERRED TO SENATE COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSI-
NESS

2021 referred to assembly small business

2022 REFERRED 2022 REFERRED TO SENATE COMMERCE, ECONOMIC DEVELOPMENT AND
SMALL BUSINESS

2022 referred to assembly and small business

 
FISCAL IMPLICATIONS:

None to the State. $100 million dollars from the American Rescue Plan
Act of 2021.

 
EFFECTIVE DATE:
Immediately

2023-S2008 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2008
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 18, 2023
                                ___________
 
 Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Commerce, Economic  Devel-
   opment and Small Business
 
 AN  ACT  establishing  the minority- and women-owned business protection
   program
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Legislative  findings. a. The American Rescue Plan Act of
 2021 is a $1.9 trillion economic stimulus legislation package passed  by
 Congress  and  signed  into  law  by President Joseph Biden on March 11,
 2021.
   b. Many local small businesses  including  minority-  and  women-owned
 businesses  (MWBEs)  in  our  state  did not receive any federal funding
 under the federal Paycheck Protection Program (PPP).
   c. As New York state is reopening regionally post  COVID-19,  many  of
 our  MWBEs  who did not receive any PPP funding are in desperate need of
 funding to employ and/or pay staff, purchase inventory, and pay rent and
 utilities.
   § 2. Establishment.  Notwithstanding  any  provision  of  law  to  the
 contrary, the legislature shall authorize the MWBE development and lend-
 ing program to establish the MWBE protection program to be funded in the
 amount of 100 million dollars from the American Rescue Plan Act of 2021.
 Funding  for such program may also come from state appropriations. Funds
 received from the American Rescue Plan Act of  2021  shall  be  used  to
 reimburse  any  monies  appropriated  by  the  state  for  the  purposes
 described under section four of this act.
   § 3. Eligibility. Entities  shall  be  eligible  for  MWBE  protection
 program  funds  provided  such  entity  has  less than 100 employees per
 location, was in existence in New York state by the first day the  state
 disaster emergency related to COVID-19 was declared by the governor, can
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03113-01-3
 S. 2008                             2

 
 document actual economic harm or revenue shortfall as a direct result of
 the pandemic, and has filed 2018, 2019 or 2020 tax returns.
   §  4.  Grants. The MWBE protection program shall provide the following
 grants in an amount that shall equal 60%  of  the  prior  year  eligible
 expenses not to exceed $100,000.00:
   a.  A  rent  reimbursement  grant to reimburse qualifying entities for
 rent paid during the COVID-19 pandemic, provided such entity  has  docu-
 mentary  proof of such paid rent. This rent reimbursement grant shall be
 capped at 3 months of paid rent during the state of emergencies;
   b. A grant to reimburse qualifying entities for  perishable  inventory
 purchased  before  the  COVID-19  state  of  disaster emergency that was
 thrown out due to the forced shut down of such entity and/or to  replace
 food inventory to help such entity reopen; and
   c. A grant for payroll or for the compensation of independent contrac-
 tors who complete the federal tax form 1099; and
   d. A grant for utilities.
   §   5.  Oversight.  The  state  comptroller  shall  monitor  the  MWBE
 protection program to ensure the provisions of  this  act  are  properly
 executed. The state comptroller shall submit a report on such program to
 the  governor,  the temporary president of the senate and the speaker of
 the assembly, and shall post such on  the  comptroller's  website  on  a
 quarterly basis describing any grants provided under such program.
   § 6. This act shall take effect immediately.

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Senate Bill S2008

Sponsored By

Current Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee

2023-S2008 (ACTIVE) - Details

2023-S2008 (ACTIVE) - Summary

2023-S2008 (ACTIVE) - Sponsor Memo

2023-S2008 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S2008

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Sponsored By

James Sanders Jr.

Current Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee

2023-S2008 (ACTIVE) - Details

2023-S2008 (ACTIVE) - Summary

2023-S2008 (ACTIVE) - Sponsor Memo

2023-S2008 (ACTIVE) - Bill Text download pdf

Comments