Assembly Bill A5408A

2021-2022 Legislative Session

Establishes a small business grant program

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Sponsored By

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

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Bill Amendments

2021-A5408 - Details

See Senate Version of this Bill:
S4688
Current Committee:
Assembly Small Business
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §16-bb, UDC Act

2021-A5408 - Summary

Establishes a small business grant program worth up to one hundred million dollars for businesses forced to close during the COVID-19 pandemic.

2021-A5408 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5408
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 16, 2021
                                ___________
 
 Introduced  by  M. of A. OTIS -- 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 establishing a small business grant program
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1. 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 section 16-bb to read as follows:
   §  16-BB.  NEW  YORK  SMALL BUSINESS GRANT PROGRAM. 1. THERE IS HEREBY
 ESTABLISHED A NEW YORK STATE SMALL  BUSINESS  GRANT  PROGRAM  UNDER  THE
 PURVIEW  OF THE EMPIRE STATE DEVELOPMENT CORPORATION. SUCH PROGRAM SHALL
 BE WORTH UP TO ONE HUNDRED MILLION DOLLARS AND SHALL PROVIDE SMALL BUSI-
 NESSES, AS DEFINED IN SECTION 131 OF THE ECONOMIC DEVELOPMENT LAW,  WITH
 GRANTS  IN  ORDER TO ASSIST SUCH BUSINESSES RECOVERING FROM THE COVID-19
 PANDEMIC.
   2. THE ASSISTANCE PROVIDED UNDER THIS SECTION SHALL BE FUNDED  BY  ANY
 AVAILABLE  FEDERAL RELIEF FUNDS AVAILABLE TO THE STATE UP TO ONE HUNDRED
 MILLION DOLLARS.
   3. GRANTS MADE PURSUANT TO THIS SECTION SHALL, AS FAR AS  PRACTICABLE,
 BE  EQUITABLY  DISTRIBUTED AMONG ALL REGIONS OF THE STATE, REFLECTIVE OF
 THE ECONOMIC IMPACT ON EACH REGION DUE TO THE CLOSURE OR  LIMITATION  OF
 BUSINESS  OPERATIONS  DUE  TO ANY EXECUTIVE ORDER ISSUED BY THE GOVERNOR
 RELATED TO THE STATE DISASTER EMERGENCY DECLARED PURSUANT  TO  EXECUTIVE
 ORDER 202 OF 2020.
   4.  THE  EMPIRE STATE DEVELOPMENT CORPORATION SHALL CREATE AN APPLICA-
 TION PROCESS FOR SUCH GRANTS, AND SHALL PROMULGATE RULES AND REGULATIONS
 FOR AWARDING AND DISTRIBUTING GRANTS PURSUANT TO THIS SECTION; PROVIDED,
 HOWEVER, THAT PREFERENCE IS GIVEN TO SMALL BUSINESSES THAT  WERE  FORCED
 TO  CLOSE DURING PHASE THREE OR PHASE FOUR OF THE STATE'S REOPENING PLAN
 IN THE COUNTY OR REGION IN WHICH THE BUSINESS IS LOCATED.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

co-Sponsors

2021-A5408A (ACTIVE) - Details

See Senate Version of this Bill:
S4688
Current Committee:
Assembly Small Business
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §16-bb, UDC Act

2021-A5408A (ACTIVE) - Summary

Establishes a small business grant program worth up to one hundred million dollars for businesses forced to close during the COVID-19 pandemic.

2021-A5408A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5408--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 16, 2021
                                ___________
 
 Introduced  by  M. of A. OTIS -- read once and referred to the Committee
   on Small Business  --  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 establishing a small business grant program

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. 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 section 16-bb to read as follows:
   § 16-BB. NEW YORK SMALL BUSINESS GRANT PROGRAM.  1.  THERE  IS  HEREBY
 ESTABLISHED  A  NEW  YORK  STATE  SMALL BUSINESS GRANT PROGRAM UNDER THE
 PURVIEW OF THE EMPIRE STATE DEVELOPMENT CORPORATION. SUCH PROGRAM  SHALL
 NOT EXPEND MORE THAN ONE HUNDRED MILLION DOLLARS AND SHALL PROVIDE SMALL
 BUSINESSES,  AS  DEFINED IN SECTION 131 OF THE ECONOMIC DEVELOPMENT LAW,
 WITH GRANTS IN ORDER TO  ASSIST  SUCH  BUSINESSES  RECOVERING  FROM  THE
 COVID-19 PANDEMIC.
   2.  THE  ASSISTANCE PROVIDED UNDER THIS SECTION SHALL BE FUNDED BY ANY
 AVAILABLE FEDERAL RELIEF FUNDS AVAILABLE TO THE STATE UP TO ONE  HUNDRED
 MILLION DOLLARS.
   3.  GRANTS MADE PURSUANT TO THIS SECTION SHALL, AS FAR AS PRACTICABLE,
 BE EQUITABLY DISTRIBUTED AMONG ALL REGIONS OF THE STATE,  REFLECTIVE  OF
 THE  ECONOMIC  IMPACT ON EACH REGION DUE TO THE CLOSURE OR LIMITATION OF
 BUSINESS OPERATIONS DUE TO ANY EXECUTIVE ORDER ISSUED  BY  THE  GOVERNOR
 RELATED  TO  THE STATE DISASTER EMERGENCY DECLARED PURSUANT TO EXECUTIVE
 ORDER 202 OF 2020.
   4. THE EMPIRE STATE DEVELOPMENT CORPORATION SHALL CREATE  AN  APPLICA-
 TION PROCESS FOR SUCH GRANTS, AND SHALL PROMULGATE RULES AND REGULATIONS
 FOR AWARDING AND DISTRIBUTING GRANTS PURSUANT TO THIS SECTION; PROVIDED,
 HOWEVER,  THAT  PREFERENCE IS GIVEN TO SMALL BUSINESSES THAT WERE FORCED
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09516-05-1

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