LBD10831-02-7
S. 5642 2
(II) PAYMENT OF ANY TAX OR EMPLOYEE BENEFIT ARREARAGE;
(III) RESIDENTIAL CONSTRUCTION, RENOVATION OR DEVELOPMENT
CONSTRUCTION, EXCEPT FOR ASSISTANCE TO CERTIFIED SERVICE-DISABLED VETER-
AN-OWNED BUSINESS ENTERPRISE CONTRACTORS UNDER SUBDIVISION FOUR OF THIS
SECTION;
(IV) EDUCATIONAL INSTITUTIONS AND PROPRIETARY EDUCATION FIRMS, EXCEPT
LICENSED CHILD CARE FACILITIES;
(V) HOSPITALS OR RESIDENTIAL HEALTH CARE FACILITIES;
(VI) OVERNIGHT LODGING FACILITIES;
(VII) REFINANCING OF DEBT OR EQUITY INVESTED IN AN ENTERPRISE OR
PROJECT.
(D) THE CORPORATION IS AUTHORIZED TO:
(I) ESTABLISH PROGRAMS IN CONJUNCTION WITH LOCALLY AND COMMUNITY-BASED
ENTITIES TO DECENTRALIZE LENDING FOR SMALL LOANS AND LOANS TO START UP
CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISES;
(II) ESTABLISH A COMPREHENSIVE PROGRAM FOR CERTIFIED SERVICE-DISABLED
VETERAN-OWNED BUSINESS ENTERPRISES, WHICH MAY INCLUDE ASSISTANCE THROUGH
LOANS, BONDING ASSISTANCE AND TECHNICAL ASSISTANCE;
(III) ESTABLISH A PROGRAM TO PROVIDE LOANS TO ESTABLISHED CERTIFIED
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISES INCLUDING LOANS TO
SUCH BUSINESSES SEEKING TO ACQUIRE OR EXPAND A FRANCHISE;
(IV) PROVIDE LOAN GUARANTEES TO FINANCIAL INSTITUTIONS AND MAKE LINKED
DEPOSITS INTO FEDERALLY AND STATE CHARTERED CREDIT UNIONS FOR THE
PURPOSE OF ENCOURAGING PRIVATE FINANCIAL INSTITUTIONS TO MAKE LOANS TO
CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISES;
(V) ESTABLISH A PROGRAM TO CREATE INCUBATORS TO ASSIST SMALL AND HIGH
RISK CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISES TO
GROW AND PROSPER;
(VI) PROMOTE EQUITY INVESTMENT IN CERTIFIED SERVICE-DISABLED VETERAN-
OWNED BUSINESS ENTERPRISES;
(VII) ESTABLISH A COMPREHENSIVE TECHNICAL ASSISTANCE PROGRAM IN COOP-
ERATION WITH THE DEPARTMENT OF ECONOMIC DEVELOPMENT TO ASSIST CERTIFIED
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISES; AND
(VIII) NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, ESTABLISH
A CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE INVEST-
MENT FUND TO PROVIDE CRITICAL FINANCIAL SUPPORT TO FOSTER THE DEVELOP-
MENT OF NEW AND EMERGING IDEAS AND PRODUCTS OF CERTIFIED SERVICE-DISA-
BLED VETERAN-OWNED BUSINESS ENTERPRISES AS WELL AS TO PROMOTE THE
LONG-TERM FINANCIAL PERFORMANCE AND SUCCESS OF EARLY STAGE ENTERPRISES
THAT ARE CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE
START-UPS. THE SELECTION OF AN ELIGIBLE APPLICANT AND BENEFICIARY COMPA-
NIES FOR THE CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTER-
PRISE INVESTMENT FUND SHALL BE SELECTED BY THE PROCESS ESTABLISHED
PURSUANT TO SUBDIVISIONS TWO, THREE, AND FOUR OF SECTION SIXTEEN-U OF
THIS ACT. CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISES
WHO PARTICIPATE IN SUCH CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSI-
NESS ENTERPRISE INVESTMENT FUND UNDER THIS SUBDIVISION SHALL NOT BE
PRECLUDED FROM QUALIFYING FOR ANY OTHER ASSISTANCE, GRANT OR LOAN MADE
AVAILABLE FROM THE STATE.
(2) CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE
REVOLVING LOAN TRUST FUND. FOR THE PURPOSE OF ESTABLISHING PROGRAMS IN
CONJUNCTION WITH LOCALLY AND COMMUNITY BASED ENTITIES TO DECENTRALIZE
LENDING FOR SMALL LOANS AND LOANS TO START UP CERTIFIED SERVICE-DISABLED
VETERAN-OWNED BUSINESS ENTERPRISES, THE CORPORATION SHALL ESTABLISH
CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING
S. 5642 3
LOAN TRUST FUND ACCOUNTS AND RELATED ADMINISTRATIVE EXPENSES TRUST FUND
ACCOUNTS.
(A) EACH CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE
REVOLVING LOAN TRUST FUND ACCOUNT SHALL BE ADMINISTERED BY ONE OR MORE
OF THE FOLLOWING TYPES OF ENTITIES THAT PROVIDE SERVICES TO COMMUNITY
BUSINESSES AND HAVE AS ONE OF THEIR PRIMARY PURPOSES THE PROVISION OF
SERVICES AND ASSISTANCE TO CERTIFIED SERVICE-DISABLED VETERAN-OWNED
BUSINESS ENTERPRISES:
(I) EMPIRE ZONE CAPITAL CORPORATIONS ESTABLISHED PURSUANT TO SECTION
NINE HUNDRED SIXTY-FOUR OF THE GENERAL MUNICIPAL LAW;
(II) COMMUNITY-BASED LOCAL DEVELOPMENT CORPORATIONS OR INDUSTRIAL
DEVELOPMENT AGENCIES THAT SERVE A MUNICIPALITY IN WHICH AN EMPIRE ZONE
HAS BEEN ESTABLISHED PURSUANT TO ARTICLE EIGHTEEN-B OF THE GENERAL
MUNICIPAL LAW AND HAVE AS THEIR PRIMARY PURPOSE ASSISTANCE TO CERTIFIED
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISES LOCATED OR TO BE
LOCATED IN SUCH EMPIRE ZONE; OR
(III) LOCAL AND COMMUNITY DEVELOPMENT CORPORATIONS, INDUSTRIAL DEVEL-
OPMENT AGENCIES, OR OTHER NOT-FOR-PROFIT ENTITIES, REPRESENTATIVE OF THE
COMMUNITY.
(B) TO BE ELIGIBLE TO ADMINISTER A CERTIFIED SERVICE-DISABLED VETER-
AN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST FUND ACCOUNT, THE
ENTITY MUST ALSO:
(I) HAVE STAFF WITH SUFFICIENT EXPERTISE TO ANALYZE APPLICATIONS FOR
FINANCIAL ASSISTANCE, TO REGULARLY MONITOR FINANCIAL ASSISTANCE TO
CLIENTS, AND TO PROVIDE MANAGEMENT OR TECHNICAL ASSISTANCE TO CLIENTS;
AND
(II) HAVE ESTABLISHED A LOAN COMMITTEE COMPOSED OF SIX OR MORE PERSONS
EXPERIENCED IN BUSINESS MANAGEMENT, COMMERCIAL LENDING OR IN THE OPERA-
TION OF A FOR-PROFIT BUSINESS, AT LEAST ONE-HALF OF WHOM SHALL BE EXPE-
RIENCED IN COMMERCIAL LENDING, AND AT LEAST ONE-QUARTER OF WHOM SHALL BE
SERVICE-DISABLED VETERANS AS DEFINED IN ARTICLE SEVENTEEN-B OF THE EXEC-
UTIVE LAW. SUCH LOAN COMMITTEE SHALL REVIEW EVERY APPLICATION, DETERMINE
THE FEASIBILITY OF THE PROPOSED PROJECT AND THE LIKELIHOOD OF REPAYMENT
OF THE REQUESTED FINANCING AND SHALL RECOMMEND TO THE GOVERNING BODY OF
THE ENTITY SUCH ACTION ON THE APPLICATION AS THE LOAN COMMITTEE DEEMS
APPROPRIATE. THE CORPORATION SHALL IDENTIFY ENTITIES ELIGIBLE TO ADMIN-
ISTER THE CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE
REVOLVING LOAN TRUST FUND ACCOUNTS THROUGH A COMPETITIVE STATEWIDE
REQUEST FOR PROPOSAL PROCESS.
(C) ANY ENTITY SELECTED TO ADMINISTER A CERTIFIED SERVICE-DISABLED
VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST FUND ACCOUNT
SHALL BE ELIGIBLE TO DRAW FUNDS FROM THE ACCOUNT AS NEEDED TO PROVIDE
THE FOLLOWING TYPES OF FINANCIAL ASSISTANCE TO CERTIFIED SERVICE-DISA-
BLED VETERAN-OWNED BUSINESS ENTERPRISES UPON CERTIFICATION TO AND
ACCEPTANCE BY THE CORPORATION THAT SUCH ASSISTANCE COMPLIES WITH RULES
AND REGULATIONS PROMULGATED BY THE CORPORATION:
(I) WORKING CAPITAL LOANS, PROVIDED THAT THE AMOUNT OF THE LOAN DOES
NOT EXCEED THIRTY-FIVE THOUSAND DOLLARS AND THE TERM OF THE LOAN DOES
NOT EXCEED FIVE YEARS; AND
(II) LOANS FOR THE ACQUISITION AND/OR IMPROVEMENT OF REAL PROPERTY AND
FOR THE ACQUISITION OF MACHINERY AND EQUIPMENT PROVIDED THAT THE AMOUNT
OF THE LOAN DOES NOT EXCEED FIFTY THOUSAND DOLLARS AND THE TERM OF THE
LOAN DOES NOT EXCEED THE USEFUL LIFE OF THE EQUIPMENT OR PROPERTY.
(D) (I) NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE
CORPORATION MAY ESTABLISH AN ADMINISTRATIVE EXPENSES TRUST FUND ACCOUNT
FOR THE BENEFIT OF EACH ENTITY SELECTED TO ADMINISTER A CERTIFIED
S. 5642 4
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST
FUND ACCOUNT. THE INITIAL DEPOSIT OF FUNDS TO AN ADMINISTRATIVE EXPENSES
TRUST FUND ACCOUNT SHALL BE AN AMOUNT DETERMINED BY THE CORPORATION BUT
SHALL NOT EXCEED TWENTY-FIVE THOUSAND DOLLARS.
(II) AN ENTITY SELECTED TO ADMINISTER A CERTIFIED SERVICE-DISABLED
VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST FUND ACCOUNT MAY
USE THE FUNDS IN THE ADMINISTRATIVE EXPENSES TRUST FUND ACCOUNT FOR
COSTS INCURRED BY IT IN THE START-UP AND ADMINISTRATION OF THE FINANCIAL
ASSISTANCE PROGRAM AUTHORIZED PURSUANT TO THIS SUBDIVISION.
(III) THE CORPORATION SHALL DEPOSIT INTO EACH ADMINISTRATIVE EXPENSES
TRUST FUND ACCOUNT:
(A) ALL INCOME EARNED FROM THE MONEYS ON DEPOSIT IN THE CORRESPONDING
CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING
LOAN TRUST FUND ACCOUNT DURING THE FIRST YEAR OF THE ENTITY'S ADMINIS-
TRATION OF SAID ACCOUNT; AND
(B) BEGINNING WITH ITS SECOND YEAR IN ADMINISTERING A CERTIFIED
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST
FUND ACCOUNT, SAID AMOUNTS MAY BE USED FOR COSTS INCURRED BY THE ENTITY
IN ADMINISTERING THE CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS
ENTERPRISE REVOLVING LOAN TRUST FUND ACCOUNT; AND
(C) REPAYMENTS OF INTEREST ON LOANS MADE FROM THE CORRESPONDING CERTI-
FIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN
TRUST FUND ACCOUNT.
(IV) FUNDS FROM THE ADMINISTRATIVE EXPENSES TRUST FUND ACCOUNT MAY BE
USED FOR COSTS INCURRED AT ANY TIME BY AN ADMINISTERING ENTITY IN ITS
ADMINISTRATION OF A CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS
ENTERPRISE REVOLVING LOAN TRUST FUND ACCOUNT PURSUANT TO THIS SECTION.
(V) FUNDS DEPOSITED IN AN ADMINISTRATIVE EXPENSES TRUST FUND ACCOUNT
SHALL BE DISBURSED BY THE CORPORATION TO THE ENTITY THAT ADMINISTERS THE
CORRESPONDING CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTER-
PRISE REVOLVING LOAN TRUST FUND ACCOUNT ON A PERIODIC BASIS AND SHALL BE
EXPENDED BY THE ENTITY IN ACCORDANCE WITH AN ANNUAL BUDGET AND ANY
UPDATES OF SAME, APPROVED BY THE CORPORATION.
(E) ANY ENTITY SELECTED TO ADMINISTER A CERTIFIED SERVICE-DISABLED
VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST FUND ACCOUNT
SHALL PAY TO THE CORPORATION FOR DEPOSIT ANY REPAYMENTS RECEIVED IN
CONNECTION WITH FINANCIAL ASSISTANCE PROVIDED FROM ITS ACCOUNT. PAYMENTS
CONSISTING OF THE REPAYMENT OF THE PRINCIPAL AMOUNT OF A LOAN SHALL BE
DEPOSITED BY THE CORPORATION INTO THE CERTIFIED SERVICE-DISABLED VETER-
AN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST FUND ACCOUNT FROM
WHICH THE LOAN WAS MADE. THE INTEREST EARNED BY THE CORPORATION FROM THE
INVESTMENT OF MONEYS IN EACH CERTIFIED SERVICE-DISABLED VETERAN-OWNED
BUSINESS ENTERPRISE REVOLVING LOAN TRUST FUND ACCOUNT DURING AND AFTER
THE SECOND YEAR OF A SELECTED ENTITY'S ADMINISTRATION OF SAID ACCOUNT
SHALL BE DEPOSITED BY THE CORPORATION INTO THE CORRESPONDING CERTIFIED
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST
FUND ACCOUNT AND USED TO PROVIDE THE FINANCIAL ASSISTANCE TO CERTIFIED
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISES AS AUTHORIZED PURSU-
ANT TO THIS SECTION.
(F) THE PROVISIONS OF SUBDIVISIONS EIGHT, NINE, FOURTEEN, FIFTEEN,
SIXTEEN, SEVENTEEN, EIGHTEEN AND NINETEEN OF SECTION SIXTEEN-A OF THIS
ACT PERTAINING TO THE REGIONAL REVOLVING LOAN TRUST FUND SHALL ALSO BE
APPLICABLE TO THE CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS
ENTERPRISE REVOLVING LOAN TRUST FUND, PROVIDED THAT: WHERE THE TERM
"REGIONAL CORPORATION" APPEARS THEREIN IT SHALL BE INTERPRETED TO MEAN
AN ENTITY SELECTED TO ADMINISTER A CERTIFIED SERVICE-DISABLED VETERAN-
S. 5642 5
OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST FUND ACCOUNT, AND
"REGIONAL REVOLVING LOANS TRUST FUND" SHALL MEAN A CERTIFIED SERVICE-
DISABLED VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST FUND,
AND WHERE THE TERM "THIS SECTION" APPEARS THEREIN IT SHALL MEAN THIS
SECTION.
(G) THE CORPORATION MAY PROVIDE FUNDS FROM AN APPROPRIATION FOR THE
CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE DEVELOPMENT
AND LENDING PROGRAM TO ANY ENTITY SELECTED TO ADMINISTER A CERTIFIED
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST
FUND FOR THE PURPOSES OF RECAPITALIZING SUCH ACCOUNT AND THE ENTITY'S
CORRESPONDING ADMINISTRATIVE EXPENSES TRUST FUND ACCOUNT FOLLOWING AN
EVALUATION BY THE CORPORATION OF THE ENTITY'S ADMINISTRATION AND USE OF
SUCH ACCOUNTS.
(H) NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE CORPO-
RATION SHALL ESTABLISH A CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSI-
NESS ENTERPRISE REVOLVING LOAN TRUST FUND TO PAY INTO SUCH FUND ANY
MONEYS MADE AVAILABLE TO THE CORPORATION FOR SUCH FUND FROM ANY SOURCE,
INCLUDING MONEYS APPROPRIATED BY THE STATE AND ANY INCOME EARNED BY, OR
INCREMENT TO, THE ACCOUNT DUE TO THE INVESTMENT THEREOF, OR ANY REPAY-
MENT OF MONEYS ADVANCED FROM THE FUND. THE CORPORATION SHALL NOT COMMIN-
GLE THE MONEYS OF SUCH FUND WITH ANY MONEYS HELD IN TRUST BY THE CORPO-
RATION, EXCEPT FOR INVESTMENT PURPOSES.
(3) MICRO-LOAN PROGRAM. (A) FOR THE PURPOSES OF THIS SUBDIVISION
"MICRO-LOAN" SHALL MEAN A LOAN OF UNDER SEVEN THOUSAND FIVE HUNDRED
DOLLARS.
(B) THE CORPORATION SHALL, PURSUANT TO REQUESTS FOR PROPOSALS, ENTER
INTO AGREEMENTS FOR OTHER TYPES OF LOCALLY, REGIONALLY OR COMMUNITY-AD-
MINISTERED LOAN PROGRAMS THAN THOSE SET FORTH IN SUBDIVISION TWO OF THIS
SECTION, INCLUDING MICRO-LOAN PROGRAMS TO BE ADMINISTERED BY LOCAL
DEVELOPMENT CORPORATIONS, LOCAL INDUSTRIAL DEVELOPMENT ORGANIZATIONS,
MUNICIPALITIES AND NOT-FOR-PROFIT ORGANIZATIONS, TO PROVIDE MICRO-LOANS
TO SMALL AND HIGH RISK CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS
ENTERPRISES LOCATED WITHIN THEIR RESPECTIVE SERVICE AREAS, PROVIDED THAT
LOAN REVIEW COMMITTEES ARE ESTABLISHED BY SUCH ADMINISTERING ENTITY,
INCLUDING SERVICE-DISABLED VETERANS, AS DEFINED IN ARTICLE SEVENTEEN-B
OF THE EXECUTIVE LAW, EXPERIENCED IN BUSINESS MANAGEMENT, BUSINESS
DEVELOPMENT, COMMERCIAL LENDING, ENTREPRENEURSHIP, OR IN THE OPERATION
OF A FOR-PROFIT BUSINESS.
(C) AGREEMENTS ENTERED INTO PURSUANT TO PARAGRAPH (B) OF THIS SUBDIVI-
SION SHALL BE GOVERNED BY PARAGRAPHS (D), (E), (F), (G) AND (H) OF
SUBDIVISION TWO OF THIS SECTION, AND CERTIFIED SERVICE-DISABLED VETER-
AN-OWNED BUSINESS ENTERPRISE REVOLVING LOAN TRUST FUND ACCOUNTS AND
ADMINISTRATIVE EXPENSES TRUST FUND ACCOUNTS SHALL BE ESTABLISHED IN A
SIMILAR FASHION FOR ENTITIES SELECTED TO ADMINISTER MICRO-LOAN FUNDS
PURSUANT TO THIS SUBDIVISION.
(4) CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE
CONTRACTING PROGRAM. FOR THE PURPOSE OF ESTABLISHING A COMPREHENSIVE
PROGRAM TO ASSIST CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS
ENTERPRISE CONTRACTORS, THE CORPORATION MAY PROVIDE LOANS, LOAN GUARAN-
TEES, TECHNICAL ASSISTANCE AND BONDING ASSISTANCE, THE CORPORATION MAY
ENTER INTO COOPERATIVE AGREEMENTS WITH CITIES, COUNTIES, MUNICIPALITIES,
AUTHORITIES, AGENCIES, FEDERALLY AND STATE CHARTERED CREDIT UNIONS IN
THE STATE AND FEDERALLY INSURED BANKING ORGANIZATIONS AND FINANCIAL
INSTITUTIONS FOR SUCH PURPOSES.
(A) TO BE ELIGIBLE FOR A CONTRACTOR LOAN, THE BORROWER MUST HAVE
EITHER:
S. 5642 6
(I) A CONSTRUCTION CONTRACT WITH, OR A CONTRACT TO PROVIDE GOODS OR
SERVICES TO, A GOVERNMENTAL ENTITY OR AUTHORITY;
(II) A SUBCONTRACT ON A GOVERNMENT-SPONSORED CONSTRUCTION CONTRACT;
(III) A CONTRACT OR SUBCONTRACT ON A GOVERNMENT SPONSORED RESIDENTIAL
PROJECT; OR
(IV) A CONTRACT OR SUBCONTRACT ON A CONSTRUCTION PROJECT PREVIOUSLY
APPROVED BY THE CORPORATION PURSUANT TO SECTION TEN OF THIS ACT.
(B) THE CORPORATION SHALL PROVIDE TECHNICAL ASSISTANCE SPECIFICALLY
ORIENTED TO CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE
GOVERNMENT CONTRACTORS AS PART OF ITS COMPREHENSIVE TECHNICAL ASSISTANCE
PROGRAM.
(C) THE CORPORATION IS AUTHORIZED TO PROVIDE ASSISTANCE THROUGH THE
CREATION OF, OR ASSISTANCE TO, A CERTIFIED SERVICE-DISABLED VETERAN-
OWNED BUSINESS ENTERPRISE BONDING GUARANTEE PROGRAM TO ENABLE CERTIFIED
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE CONTRACTORS AND
SUBCONTRACTORS TO MEET PAYMENT OR PERFORMANCE BONDING REQUIREMENTS.
(I) THROUGH SUCH PROGRAM, ASSISTANCE IN THE FORM OF WORKING CAPITAL
LOANS AND LOAN GUARANTEES PURSUANT TO SUBDIVISION SIX OF THIS SECTION
MAY ALSO BE PROVIDED TO CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSI-
NESS ENTERPRISE CONTRACTORS AND SUBCONTRACTORS WHO HAVE SECURED
CONTRACTS BY PARTICIPATING IN THE PROGRAM.
(II) THE CORPORATION SHALL EITHER ESTABLISH CRITERIA FOR THE BONDING
GUARANTEE PROGRAM AND FOR ANY REQUIRED ESCROW FUNDS WHICH SHALL INCLUDE
DETAILED PROVISIONS FOR ELIGIBILITY; OR IF THE CORPORATION IS PROVIDING
ASSISTANCE TO A PROGRAM OTHER THAN ONE ESTABLISHED BY THE CORPORATION,
REVIEW AND APPROVE THE CRITERIA ESTABLISHED FOR SUCH OTHER PROGRAM.
(5) DIRECT FINANCIAL ASSISTANCE FOR CERTIFIED SERVICE-DISABLED VETER-
AN-OWNED BUSINESS ENTERPRISES. FOR THE PURPOSE OF ESTABLISHING A PROGRAM
TO PROVIDE DIRECT FINANCIAL ASSISTANCE TO CERTIFIED SERVICE-DISABLED
VETERAN-OWNED BUSINESS ENTERPRISES, THE CORPORATION IS AUTHORIZED TO
PROVIDE ASSISTANCE IN THE FORM OF:
(A) BUSINESS DEVELOPMENT LOANS AND LOAN GUARANTEES PURSUANT TO SUBDI-
VISION SIX OF THIS SECTION TO ELIGIBLE ENTERPRISES FOR THE ACQUISITION
OR IMPROVEMENT OF REAL PROPERTY, MACHINERY, EQUIPMENT OR WORKING CAPI-
TAL, PROVIDED THAT TO BE ELIGIBLE FOR A BUSINESS DEVELOPMENT LOAN, THE
BORROWERS MUST HAVE BEEN IN BUSINESS FOR AT LEAST THREE YEARS AND
PROVIDED THAT THE LOANS MUST BE IN AN AMOUNT EQUAL TO OR IN EXCESS OF
FIFTY THOUSAND DOLLARS;
(B) FRANCHISE LOANS TO ELIGIBLE ENTERPRISES SEEKING TO ACQUIRE OR
EXPAND FRANCHISES OF NATIONALLY RECOGNIZED CORPORATIONS, PROVIDED THAT
DISBURSEMENTS BY THE CORPORATION OF SUCH LOANS SHALL BE CONDITIONED ON
OBTAINING SUCH FRANCHISES;
(C) EQUITY ASSISTANCE FOR ELIGIBLE CERTIFIED SERVICE-DISABLED VETER-
AN-OWNED BUSINESS ENTERPRISES TO MATCH EQUITY CONTRIBUTIONS TO SUCH
ENTERPRISES BY FINANCIAL INSTITUTIONS AND COMMUNITY DEVELOPMENT EQUITY
CAPITAL FUNDS, PROVIDED, HOWEVER, THAT SUCH ASSISTANCE SHALL BE TARGETED
TO START-UP AND EARLY STAGE ENTERPRISES IN THE MANUFACTURING, RETAIL AND
SERVICE SECTORS LOCATED IN ECONOMICALLY DISTRESSED AREAS.
(6) DEPOSITS AND LOAN GUARANTEES. FOR THE PURPOSE OF ENCOURAGING
PRIVATE FINANCIAL INSTITUTIONS TO MAKE LOANS TO ELIGIBLE ENTERPRISES
PURSUANT TO THIS SECTION FOR ANY OF THE ELIGIBLE PROJECTS PURSUANT TO
SUBDIVISIONS FOUR AND FIVE OF THIS SECTION, THE CORPORATION IS AUTHOR-
IZED TO:
(A) MAKE LINKED DEPOSITS OF FUNDS INTO FEDERALLY AND STATE CHARTERED
CREDIT UNIONS IN THE STATE, IN ORDER TO ENCOURAGE SUCH ORGANIZATIONS TO
S. 5642 7
MAKE SMALL LOANS TO CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS
ENTERPRISES; AND
(B) PROVIDE LOAN GUARANTEES TO PRIVATE FINANCIAL INSTITUTIONS FOR
LOANS MADE TO ELIGIBLE CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS
ENTERPRISES PURSUANT TO THIS SUBDIVISION FOR ELIGIBLE PROJECTS, PROVIDED
THAT THE GUARANTEE SHALL BE AT LEAST FIFTY PERCENT BACKED BY FUNDS OF
THE CORPORATION. ANY SUCH LOAN GUARANTEED BY THE CORPORATION SHALL BE
MADE TO BORROWERS THAT ARE APPROVED BY THE CORPORATION AND SUBSTANTIALLY
MEET THE UNDERWRITING CRITERIA THE CREDIT UNION OR FINANCIAL INSTITUTION
CUSTOMARILY APPLIES TO SIMILAR BORROWERS FOR SIMILAR LOANS SUPPORTED BY
SIMILAR GUARANTEES, AND NO GUARANTEED LOAN FUNDS SHALL BE DISBURSED
UNTIL THE CORPORATION HAS RECEIVED, REVIEWED AND CONCURRED, IN WRITING,
WITH THE RECOMMENDATION OF THE CREDIT UNION OR BANKING OR FINANCIAL
INSTITUTION TO MAKE A LOAN.
(7) CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE SMALL
BUSINESS INCUBATOR PROGRAM. (A) THE CORPORATION SHALL ESTABLISH A CERTI-
FIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE SMALL BUSINESS
INCUBATOR PROGRAM FOR THE PURPOSE OF PROVIDING FINANCIAL SUPPORT FOR THE
CREATION OF INCUBATORS TO NURTURE CERTIFIED SERVICE-DISABLED VETERAN-
OWNED BUSINESS ENTERPRISES WITH GROWTH POTENTIAL.
(B) UNDER THIS SUBDIVISION THE CORPORATION IS AUTHORIZED TO PROVIDE
LOW-INTEREST LOANS AND GRANTS FOR CONSTRUCTION FINANCING AND PERMANENT
FINANCING OF UP TO SEVENTY-FIVE PERCENT OF PROJECT COSTS UP TO A MAXIMUM
OF SIX HUNDRED FIFTY THOUSAND DOLLARS PER PROJECT, PROVIDED THAT THE
TOTAL AMOUNT OF GRANT ASSISTANCE PROVIDED PURSUANT TO THIS PARAGRAPH
SHALL NOT EXCEED TWENTY PERCENT OF AN APPROPRIATION PROVIDED FOR THE
PURPOSES OF THIS SECTION.
(C) INCUBATOR PROJECTS ELIGIBLE FOR SUCH ASSISTANCE SHALL INVOLVE THE
RENOVATION OR RECONSTRUCTION OF EXISTING FACILITIES OR THE ACQUISITION
OF EQUIPMENT, EXCEPT THAT CONSTRUCTION SHALL BE ALLOWABLE IN CASES IN
WHICH AN APPLICANT CAN DEMONSTRATE TO THE SATISFACTION OF THE CORPO-
RATION THAT AN EXISTING FACILITY IS UNAVAILABLE IN THE AREA TO BE SERVED
BY THE NEW INCUBATOR FACILITY.
(D) INCUBATOR PROJECTS ARE NOT ELIGIBLE TO RECEIVE LOANS FOR THE
PURPOSE OF COVERING OPERATING COSTS OR SUPPLYING INCUBATOR SUPPORT
SERVICES, EXCEPT THAT INCUBATORS IN THEIR FIRST EIGHTEEN MONTHS OF OPER-
ATION MAY RECEIVE ONE-TIME GRANTS NOT TO EXCEED FORTY THOUSAND DOLLARS,
WHICH COSTS MAY INCLUDE ADMINISTRATIVE COSTS OF EMPLOYING A RESIDENT
ADMINISTRATOR/ADVISOR TO THE INCUBATOR, PROVIDED THAT THE CORPORATION
SHALL NOT EXPEND A SUM GREATER THAN TWO HUNDRED FIFTY THOUSAND DOLLARS
IN ANY ONE STATE FISCAL YEAR, OR SO MUCH AS MAY BE SPECIFICALLY APPRO-
PRIATED FOR THIS PURPOSE.
(E) ELIGIBLE INCUBATOR PROJECTS SHALL BE REQUIRED TO DEMONSTRATE TO
THE CORPORATION'S SATISFACTION:
(I) PUBLIC OR PRIVATE SUPPORT AND INVOLVEMENT SUFFICIENT TO COMPLETE
THE RENOVATION OF EXISTING FACILITIES OR THE CONSTRUCTION OF NEW FACILI-
TIES AND THE ACQUISITION OF EQUIPMENT;
(II) SIGNIFICANT COMMUNITY SUPPORT FOR THE PROJECT;
(III) THE EXISTENCE OF PROSPECTIVE TENANTS FOR SUCH INCUBATOR SPACE;
(IV) DEMAND FOR SUCH INCUBATOR SPACE, WHICH MAY INCLUDE EVIDENCE OF
THE UNAVAILABILITY OF SUITABLE SPACE FOR PROSPECTIVE TENANTS AT APPRO-
PRIATE RENTAL OR LEASE COSTS IN THE COMMUNITY IN WHICH SUCH PROSPECTIVE
TENANTS ARE LOCATED; AND
(V) THE INABILITY OF THE PROJECT TO OCCUR WITHOUT FINANCIAL ASSISTANCE
FROM THE CORPORATION.
S. 5642 8
(F) THE CORPORATION SHALL ESTABLISH CRITERIA FOR ELIGIBILITY FOR FUND-
ING FOR INCUBATOR PROJECTS, INCLUDING BUT NOT LIMITED TO THE FOLLOWING:
(I) THE PROJECT MUST BE DESIGNED TO PROVIDE LOW-COST SPACE AND SUPPORT
SERVICES TO INCUBATOR TENANTS, COORDINATION WITH OTHER SOURCES OF
ASSISTANCE AND FLEXIBLE LEASING ARRANGEMENTS FOR TENANTS;
(II) THE PROJECT SPONSORS MUST PROVIDE A MANAGEMENT PLAN AND A BUSI-
NESS PLAN FOR OPERATING THE INCUBATOR SATISFACTORY TO THE CORPORATION;
AND
(III) THE PROJECT GIVES PREFERENCE FOR INCUBATOR SPACE AND ASSISTANCE
TO CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISES WHICH
CURRENTLY RECEIVE, OR HAVE RECEIVED, ASSISTANCE FROM THE CORPORATION
PURSUANT TO THIS SECTION AND TO INCUBATOR PROJECTS PROPOSED TO BE
LOCATED IN ECONOMICALLY DISTRESSED AREAS.
(8) CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE TECH-
NICAL ASSISTANCE PROGRAM. (A) THE CORPORATION SHALL ESTABLISH A COMPRE-
HENSIVE TECHNICAL ASSISTANCE PROGRAM WITHIN THE CERTIFIED SERVICE-DISA-
BLED VETERAN-OWNED BUSINESS ENTERPRISE DEVELOPMENT OFFICE TO PROVIDE
TECHNICAL ASSISTANCE TO CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSI-
NESS ENTERPRISES THROUGH THIRD PARTY SERVICE PROVIDERS, WHICH ASSISTANCE
SHALL INCLUDE, BUT NOT BE LIMITED TO: (I) TECHNICAL ASSISTANCE IN DEVEL-
OPMENT AND EXECUTION OF BUSINESS PLANS, INCLUDING THE FORMATION OF,
ACQUISITION OF, MANAGEMENT OF, OR DIVERSIFICATION OF A CERTIFIED
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE; (II) TECHNICAL
ASSISTANCE WITH APPLICATIONS FOR OBTAINING FUNDS FROM PUBLIC AND PRIVATE
FINANCING SOURCES; (III) TECHNICAL ASSISTANCE IN THE DEVELOPMENT OF A
WORKING CAPITAL BUDGET; (IV) REFERRALS TO OTHER PROVIDERS OF TECHNICAL
ASSISTANCE TO CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTER-
PRISES AND CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE
ENTREPRENEURS, WHERE APPROPRIATE, INCLUDING THE ENTREPRENEURIAL ASSIST-
ANCE PROGRAM ESTABLISHED PURSUANT TO ARTICLE NINE OF THE ECONOMIC DEVEL-
OPMENT LAW; AND (V) TECHNICAL ASSISTANCE THROUGH EDUCATION PROGRAMS
DIRECTED PRIMARILY AT CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS
ENTERPRISE ENTREPRENEURS.
(B) TECHNICAL ASSISTANCE MAY BE PROVIDED THROUGH DIRECT CORPORATE
SUPPORT, THROUGH GRANTS TO OR CONTRACTS WITH SERVICE PROVIDERS OR
GOVERNMENTAL ENTITIES, AND CERTIFIED SERVICE-DISABLED VETERAN-OWNED
BUSINESS ENTERPRISES.
(9) PRIORITIES. THE CORPORATION SHALL GIVE PRIORITY TO APPLICATIONS
FOR ASSISTANCE PURSUANT TO THIS SECTION IN WHICH THE BUSINESS SEEKING
SUCH ASSISTANCE INDICATES A COMMITMENT TO FIRST CONSIDER PERSONS ELIGI-
BLE TO PARTICIPATE IN FEDERAL JOB TRAINING PARTNERSHIP ACT (P.L. 97-300)
PROGRAMS.
(10) NON-APPLICATION OF CERTAIN PROVISIONS. THE PROVISIONS OF SECTION
TEN AND SUBDIVISION TWO OF SECTION SIXTEEN OF THIS ACT SHALL NOT APPLY
TO ASSISTANCE OR PROJECTS AUTHORIZED PURSUANT TO THIS SECTION.
(11) RULES AND REGULATIONS. THE CORPORATION SHALL, ASSISTED BY THE
COMMISSIONER OF ECONOMIC DEVELOPMENT AND IN CONSULTATION WITH THE
DEPARTMENT OF ECONOMIC DEVELOPMENT, PROMULGATE RULES AND REGULATIONS IN
ACCORDANCE WITH THE STATE ADMINISTRATIVE PROCEDURE ACT. SUCH RULES AND
REGULATIONS SHALL BE CONSISTENT WITH THE PROGRAM PLAN REQUIRED BY SUBDI-
VISION NINETEEN OF SECTION ONE HUNDRED OF THE ECONOMIC DEVELOPMENT LAW.
NO FUNDS SHALL BE DISBURSED UNDER THIS PROGRAM UNTIL SUCH RULES AND
REGULATIONS HAVE BEEN REVIEWED AND APPROVED BY THE CORPORATION. ALL
ASSISTANCE AND PROJECTS FUNDED UNDER THIS PROGRAM SHALL BE FUNDED IN
ACCORDANCE WITH THE RULES AND REGULATIONS IN EFFECT ON THE DATE THE
S. 5642 9
COMPLETED APPLICATION FOR SUCH ASSISTANCE SHALL BE RECEIVED BY THE
CORPORATION.
(12) CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE
DEVELOPMENT AND LENDING ACCOUNT. NOTWITHSTANDING ANY PROVISION OF LAW TO
THE CONTRARY, THE CORPORATION SHALL ESTABLISH WITHIN THE TREASURY OF THE
CORPORATION A CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTER-
PRISE DEVELOPMENT AND LENDING ACCOUNT, AND SHALL PAY INTO SUCH ACCOUNT
ANY MONEYS WHICH MAY BE MADE AVAILABLE TO THE CORPORATION FOR THIS
PURPOSE FROM ANY SOURCE INCLUDING, BUT NOT LIMITED TO, MONEYS APPROPRI-
ATED BY THE STATE AND ANY REPAYMENT OF PRINCIPAL AND INTEREST ON LOANS
MADE BY THE CORPORATION PURSUANT TO THE CERTIFIED SERVICE-DISABLED
VETERAN-OWNED BUSINESS ENTERPRISE DEVELOPMENT AND LENDING PROGRAM. FUNDS
IN THE CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE
DEVELOPMENT AND LENDING ACCOUNT, INCLUDING FUNDS FROM THE REPAYMENT OF
PRINCIPAL AND INTEREST ON LOANS MADE BY THE CORPORATION, MAY BE USED FOR
ANY FORM OF ASSISTANCE AUTHORIZED PURSUANT TO THIS SECTION. THE AMOUNTS
DEPOSITED IN THE CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS
ENTERPRISE DEVELOPMENT AND LENDING ACCOUNT MAY NOT BE INTERCHANGED WITH
ANY OTHER ACCOUNT, BUT MAY BE COMMINGLED WITH ANY OTHER ACCOUNT FOR
INVESTMENT PURPOSES. ALL LOANS DISBURSED BY THE CORPORATION SHALL BE
REPAID INTO THE ACCOUNT. THE CORPORATION SHALL ENTER INTO A WRITTEN
AGREEMENT WITH THE DIRECTOR OF THE BUDGET FOR REPAYMENT, TO THE STATE
COMPTROLLER TO THE CREDIT OF THE CAPITAL PROJECTS FUND, OF ALL MONEYS IN
THE ACCOUNT AFTER A PERIOD OF TIME TO BE DETERMINED BY THE CORPORATION
AND THE DIRECTOR OF THE BUDGET. THE CORPORATION SHALL TRANSFER TO THE
CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE DEVELOPMENT
AND LENDING ACCOUNT: ALL MONEYS APPROPRIATED OR REAPPROPRIATED BY NEW
YORK STATE FOR THE CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS
ENTERPRISE REVOLVING LOAN TRUST FUND THAT HAVE NOT BEEN COMMITTED PRIOR
TO THE EFFECTIVE DATE OF THE APPROPRIATION FOR THE PROGRAM IN THE
CURRENT FISCAL YEAR, OR BECOME UNCOMMITTED SUBSEQUENT TO THE EFFECTIVE
DATE OF THE PROGRAM'S APPROPRIATION FOR THE CURRENT FISCAL YEAR; AND ALL
REPAYMENTS OF PRINCIPAL AND INTEREST ON LOANS MADE BY THE CORPORATION
WHICH ARE CURRENTLY ON DEPOSIT IN, OR PAYABLE TO, THE CERTIFIED
SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE DEVELOPMENT AND LEND-
ING ACCOUNT.
(13) STANDARDIZATION. THE CORPORATION SHALL STREAMLINE THE REVIEW AND
APPROVAL PROCESS FOR PROJECTS AND WHEREVER POSSIBLE STANDARDIZE ALL
RELEVANT ATTENDANT DOCUMENTATION AND LEGAL DOCUMENTS.
(14) APPROVAL CYCLE. THE CORPORATION SHALL APPROVE ELIGIBLE LOANS OR
GRANTS ON AT LEAST A FOUR-MONTH CYCLE AND SHALL GIVE PRIORITY CONSIDER-
ATION TO THE COMPARATIVE DEGREE OF ECONOMIC DISTRESS WITHIN THE AREAS IN
WHICH THE PROJECT IS LOCATED. OTHER FACTORS TO BE CONSIDERED BY THE
CORPORATION SHALL INCLUDE THE IMPACT OF THE PROJECT ON THE EMPLOYMENT
AND ECONOMIC CONDITION OF THE COMMUNITY AND THE FINANCIAL FEASIBILITY OF
THE PROJECT.
(15) REPAYMENT. NOTWITHSTANDING THE PROVISIONS OF SECTION FORTY-A OF
THE STATE FINANCE LAW AND ANY OTHER GENERAL OR SPECIAL LAW, NO WRITTEN
AGREEMENT UNDER THIS PROGRAM SHALL REQUIRE REPAYMENT AT ANY TIME OR ON
ANY TERMS INCONSISTENT WITH THE PROVISIONS OF THIS ACT OR THE NEW YORK
STATE PROJECT FINANCE AGENCY ACT; EXCEPT, HOWEVER, THAT THE CORPORATION
MAY MAKE GRANTS TO PROJECTS USING FUNDS APPROPRIATED FOR THIS PURPOSE
AND THAT THE REPAYMENT PROVISION MAY NOT APPLY TO SUCH GRANTS.
(16) REPORTS. THE CHAIRMAN OF THE CORPORATION SHALL SUBMIT TO THE
DIRECTOR OF THE BUDGET, THE SPEAKER OF THE ASSEMBLY AND THE TEMPORARY
PRESIDENT OF THE SENATE AN EVALUATION OF THE EFFECTIVENESS OF THE
S. 5642 10
PROGRAM PREPARED BY AN ENTITY INDEPENDENT OF THE CORPORATION. THE CORPO-
RATION SHALL SELECT THE PROGRAM EVALUATOR THROUGH A REQUEST FOR PROPOSAL
PROCESS. SUCH EVALUATION SHALL DETERMINE WHETHER THE ASSISTANCE PROVIDED
HAS ENHANCED THE ECONOMIC CONDITION OF ASSISTED COMPANIES OR COMMUNI-
TIES, AND SHALL MAKE RECOMMENDATION FOR IMPROVEMENTS WHICH WOULD MAKE
THE PROGRAM MORE EFFECTIVE. SUCH EVALUATION SHALL BE SUBMITTED BY
SEPTEMBER FIRST, TWO THOUSAND NINETEEN AND SEPTEMBER FIRST EVERY TWO
YEARS THEREAFTER.
§ 2. Subdivision 1 of section 210 of the economic development law, as
amended by section 1 of part DD of chapter 55 of the laws of 2014, is
amended and a new subdivision 7 is added to read as follows:
1. "Development centers" shall mean the business enterprise develop-
ment centers which provide assistance to primarily minority group
members, women, individuals with a disability, CERTIFIED SERVICE-DISA-
BLED VETERAN-OWNED BUSINESS ENTERPRISES and veterans as established by
the department pursuant to section two hundred eleven of this article.
7. "CERTIFIED SERVICE-DISABLED VETERAN-OWNED BUSINESS ENTERPRISE"
SHALL MEAN A BUSINESS ENTERPRISE, CERTIFIED PURSUANT TO ARTICLE SEVEN-
TEEN-B OF THE EXECUTIVE LAW.
§ 3. Subdivision 1 and paragraph (d) of subdivision 3 of section 211
of the economic development law, subdivision 1 as amended by section 3
of part DD of chapter 55 of the laws of 2014 and paragraph (d) of subdi-
vision 3 as amended by chapter 227 of the laws of 1993, are amended to
read as follows:
1. The department shall provide grants, within available appropri-
ations, on a competitive basis, in response to a request for proposals
to pilot development centers, to provide intensive community-based
management and technical assistance targeted primarily to minority group
members, women, individuals with a disability, CERTIFIED SERVICE-DISA-
BLED VETERAN-OWNED BUSINESS ENTERPRISES and veterans who are seeking to
start or are starting new business ventures.
(d) establish an advisory group of community business experts, at
least one-half of whom shall be representative of the clientele to be
served by the center, which shall constitute a support network to
provide counseling and mentoring services to minority group members,
women, VETERANS and individuals with a disability from the concept stage
of development through the first one to two years of existence on a
regular basis and as needed thereafter during the first five years of a
new venture; and
§ 4. This act shall take effect 1 year after it shall have become a
law.
