Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 22, 2014 |
print number 2354a |
Jan 22, 2014 |
amend and recommit to small business |
Jan 08, 2014 |
referred to small business |
Jan 14, 2013 |
referred to small business |
Assembly Bill A2354
2013-2014 Legislative Session
Sponsored By
SCARBOROUGH
Archive: Last 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
Actions
Bill Amendments
2013-A2354 - Details
2013-A2354 - Summary
Provides that small business revolving loan funds may be used to provide short-term financing to minority-and women-owned business enterprises and small businesses performing contracts to provide construction or professional services for state procurement purposes; provides such loans shall be used to underwrite the cost of labor, materials, and equipment directly associated with the contract being financed.
2013-A2354 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2354 2013-2014 Regular Sessions I N A S S E M B L Y January 14, 2013 ___________ Introduced by M. of A. SCARBOROUGH -- read once and referred to the Committee on Small Business AN ACT to amend the New York state urban development corporation act, in relation to small business revolving loan funds THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 16-t of section 1 of chapter 174 of the laws of 1968 constituting the New York state urban development corporation act is amended by adding a new subdivision 3-a to read as follows: 3-A. (A) FUNDS APPROPRIATED TO THE SMALL BUSINESS REVOLVING LOAN FUND ON OR AFTER APRIL 1, 2013 SHALL BE USED FOR THE PURPOSES SET FORTH IN THIS SECTION NOTWITHSTANDING THE LIMITATIONS SET FORTH IN SECTIONS SEVEN THROUGH TEN OF THIS ACT. (B) SUCH FUNDS MAY BE USED FOR PROGRAM LOANS TARGETED AND MARKETED TO PROVIDE SHORT-TERM FINANCING TO MINORITY- AND WOMEN-OWNED BUSINESS ENTERPRISES AND SMALL BUSINESSES PERFORMING CONTRACTS TO PROVIDE CONSTRUCTION OR PROFESSIONAL SERVICES FOR STATE PROCUREMENT PURPOSES. SUCH LOANS SHALL BE USED TO UNDERWRITE THE COST OF LABOR, MATERIALS, AND EQUIPMENT DIRECTLY ASSOCIATED WITH THE CONTRACT BEING FINANCED. THE PROGRAM FUNDS AMOUNT USED BY THE LENDING ORGANIZATION TO FUND A PROGRAM APPLICANT LOAN SHALL NOT BE MORE THAN EIGHTY PERCENT OF THE PRINCIPAL AMOUNT OF SUCH LOAN. THE PROGRAM FUNDS AMOUNT USED BY THE LENDING ORGAN- IZATION TO FUND A PROGRAM APPLICANT LOAN SHALL NOT BE GREATER THAN FIVE HUNDRED THOUSAND DOLLARS. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02753-01-3
2013-A2354A (ACTIVE) - Details
2013-A2354A (ACTIVE) - Summary
Provides that small business revolving loan funds may be used to provide short-term financing to minority-and women-owned business enterprises and small businesses performing contracts to provide construction or professional services for state procurement purposes; provides such loans shall be used to underwrite the cost of labor, materials, and equipment directly associated with the contract being financed.
2013-A2354A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2354--A 2013-2014 Regular Sessions I N A S S E M B L Y January 14, 2013 ___________ Introduced by M. of A. SCARBOROUGH -- read once and referred to the Committee on Small Business -- recommitted to the Committee on Small Business in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the New York state urban development corporation act, in relation to small business revolving loan funds THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 16-t of section 1 of chapter 174 of the laws of 1968 constituting the New York state urban development corporation act is amended by adding a new subdivision 3-a to read as follows: 3-A. (A) FUNDS APPROPRIATED TO THE SMALL BUSINESS REVOLVING LOAN FUND ON OR AFTER APRIL 1, 2014 SHALL BE USED FOR THE PURPOSES SET FORTH IN THIS SECTION NOTWITHSTANDING THE LIMITATIONS SET FORTH IN SECTIONS SEVEN THROUGH TEN OF THIS ACT. (B) SUCH FUNDS MAY BE USED FOR PROGRAM LOANS TARGETED AND MARKETED TO PROVIDE SHORT-TERM FINANCING TO MINORITY- AND WOMEN-OWNED BUSINESS ENTERPRISES AND SMALL BUSINESSES PERFORMING CONTRACTS TO PROVIDE CONSTRUCTION OR PROFESSIONAL SERVICES FOR STATE PROCUREMENT PURPOSES. SUCH LOANS SHALL BE USED TO UNDERWRITE THE COST OF LABOR, MATERIALS, AND EQUIPMENT DIRECTLY ASSOCIATED WITH THE CONTRACT BEING FINANCED. THE PROGRAM FUNDS AMOUNT USED BY THE LENDING ORGANIZATION TO FUND A PROGRAM APPLICANT LOAN SHALL NOT BE MORE THAN EIGHTY PERCENT OF THE PRINCIPAL AMOUNT OF SUCH LOAN. THE PROGRAM FUNDS AMOUNT USED BY THE LENDING ORGAN- IZATION TO FUND A PROGRAM APPLICANT LOAN SHALL NOT BE GREATER THAN FIVE HUNDRED THOUSAND DOLLARS. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02753-02-4
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