Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to social services |
Jan 12, 2021 |
referred to social services |
Senate Bill S1459
2021-2022 Legislative Session
Sponsored By
(D, WF) 46th Senate District
Archive: Last Bill Status - In Senate Committee Social Services 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
2021-S1459 (ACTIVE) - Details
2021-S1459 (ACTIVE) - Summary
Provides that the department of labor in consultation with the department of family assistance is authorized and directed to solicit proposals to establish community loan programs providing small, no-interest loans to persons with income below 200% of the federal poverty level in order to become self-employed; requires the commissioner to contract with not-for-profit corporations to administer loan pools.
2021-S1459 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1459 SPONSOR: BRESLIN TITLE OF BILL: An act to amend the social services law, in relation to establishing the community capital loan program and providing for the filing of a report thereon PURPOSE: To allow individuals on public assistance and the working poor to quali- fy for small, low-interest loans for the purpose of becoming self-em- ployed. SUMMARY OF PROVISIONS: Section 1 amends the social services law by adding a new section 131-bb, which does the following: Subdivision 1 authorizes the Department of Labor to solicit proposals to establish programs to be known as communi- ty capital loan program? Such programs shall provide small, low interest
2021-S1459 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1459 2021-2022 Regular Sessions I N S E N A T E January 12, 2021 ___________ Introduced by Sen. BRESLIN -- read twice and ordered printed, and when printed to be committed to the Committee on Social Services AN ACT to amend the social services law, in relation to establishing the community capital loan program and providing for the filing of a report thereon THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The social services law is amended by adding a new section 131-bb to read as follows: § 131-BB. COMMUNITY CAPITAL LOAN PROGRAM. 1. FROM AMOUNTS APPROPRIATED FOR SUCH PURPOSE, THE DEPARTMENT OF LABOR IN CONSULTATION WITH THE DEPARTMENT OF FAMILY ASSISTANCE IS HEREBY AUTHORIZED AND DIRECTED TO SOLICIT PROPOSALS TO ESTABLISH PROGRAMS TO BE KNOWN AS COMMUNITY CAPITAL LOAN PROGRAMS. SUCH PROGRAMS SHALL PROVIDE SMALL, NO-INTEREST LOANS TO PERSONS WITH INCOME BELOW TWO HUNDRED PERCENT OF THE FEDERAL POVERTY LEVEL FOR THE PURPOSE OF ASSISTING THE LOAN RECIPIENT TO BECOME SELF-EM- PLOYED. LOANS AWARDED THROUGH A COMMUNITY CAPITAL LOAN PROGRAM MAY BE PAID DIRECTLY TO A THIRD PARTY ON BEHALF OF A LOAN RECIPIENT AND IN EITHER CASE SHALL NOT CONSTITUTE INCOME OR RESOURCES FOR THE PURPOSES OF PUBLIC ASSISTANCE AND CARE SO LONG AS THE FUNDS ARE USED FOR THE INTENDED PURPOSE. 2. THE COMMISSIONER OF LABOR SHALL ENTER INTO WRITTEN AGREEMENTS WITH NOT-FOR-PROFIT ORGANIZATIONS OR LOCAL GOVERNMENT AGENCIES TO ADMINISTER LOAN POOLS. AGREEMENTS SHALL BE ENTERED INTO WITH NO MORE THAN FOUR ORGANIZATIONS AND/OR AGENCIES, NO MORE THAN ONE OF WHICH SHALL BE LOCATED IN THE CITY OF NEW YORK. 3. PROGRAM SITES SHALL BE APPROVED BASED ON THE DEMONSTRATED ABILITY OF THE ORGANIZATION OR GOVERNMENTAL AGENCY TO SECURE FUNDING FROM PRIVATE AND/OR PUBLIC SOURCES SUFFICIENT TO ESTABLISH A LOAN POOL TO BE MAINTAINED THROUGH REPAYMENT AGREEMENTS ENTERED INTO BY ELIGIBLE LOW-IN- COME INDIVIDUALS. FUNDS AWARDED BY THE DEPARTMENT OF LABOR TO APPROVED EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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