Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2014 |
referred to small business |
Apr 24, 2013 |
referred to small business |
Assembly Bill A6916
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
co-Sponsors
Frank Skartados
2013-A6916 (ACTIVE) - Details
2013-A6916 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6916 2013-2014 Regular Sessions I N A S S E M B L Y April 24, 2013 ___________ Introduced by M. of A. SCARBOROUGH -- (at request of the Empire State Development) -- read once and referred to the Committee on Small Busi- ness AN ACT to amend the urban development corporation act, in relation to the small business revolving loan fund program 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 urban development corporation act, is amended by adding a new subdivision 16 to read as follows: (16) AS PROVIDED IN THIS SUBDIVISION, THE CORPORATION IS AUTHORIZED TO REALLOCATE TO THE PROGRAM FUNDS FROM THE REGIONAL REVOLVING LOAN TRUST FUND, THE MINORITY AND WOMEN REVOLVING LOAN TRUST FUND, THE MICRO ENTER- PRISE REVOLVING LOAN TRUST FUND AND THE COMMERCIAL DISTRICT REVOLVING LOAN TRUST FUND. FOR PROGRAM LOANS MADE WITH SUCH REALLOCATED FUNDS: (A) LOANS PROVIDED WITH FUNDS REALLOCATED FROM THE MINORITY AND WOMEN REVOLVING LOAN TRUST FUND SHALL BE TO MINORITY BUSINESS ENTERPRISES, AS DEFINED IN SUBDIVISION THREE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC DEVELOPMENT LAW, AND WOMEN-OWNED BUSINESS ENTERPRISES, AS DEFINED IN SUBDIVISION FIVE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC DEVELOPMENT LAW; (B) LOANS PROVIDED WITH FUNDS REALLOCATED FROM THE MICRO ENTERPRISE REVOLVING LOAN TRUST FUND SHALL BE MICROLOANS EQUAL TO OR LESS THAN SEVEN THOUSAND DOLLARS TO MINORITY BUSINESS ENTERPRISES, AS DEFINED IN SUBDIVISION THREE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC DEVELOPMENT LAW, AND WOMEN-OWNED BUSINESS ENTERPRISES, AS DEFINED IN SUBDIVISION FIVE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC DEVELOPMENT LAW; (C) LOANS PROVIDED WITH FUNDS REALLOCATED FROM THE COMMERCIAL DISTRICT REVOLVING LOAN TRUST FUND SHALL BE TO RETAIL BUSINESS WITHIN A COMMER- CIAL DISTRICT; (D) TO THE EXTENT FEASIBLE, THE CORPORATION SHALL APPLY THE REALLOCATED FUNDS FROM THE REGIONAL REVOLVING LOAN TRUST FUND SO THAT PROGRAM ELIGIBLE BORROWERS IN ALL REGIONS OF THE STATE SHALL HAVE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08437-01-3
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