NY State Senate Bill 2021-S3766

Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business 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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to commerce, economic development and small business
Jan 30, 2021	referred to commerce, economic development and small business

2021-S3766 (ACTIVE) - Details

Current Committee:: Senate Commerce, Economic Development And Small Business
Law Section:: Economic Development Law
Laws Affected:: Add Art 23 §§450 - 452, Ec Dev L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S8884
2023-2024: S1704

2021-S3766 (ACTIVE) - Summary

Creates the federal contract workers assistance program to permit the state to provide loans to certain small businesses affected by the federal government shutdown.

2021-S3766 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S3766

SPONSOR: COMRIE
 
TITLE OF BILL:

An act to amend the economic development law, in relation to creating
the federal contract workers assistance program

 
PURPOSE OR GENERAL IDEA OF BILL:

Directs the economic development corporation to establish a payroll loan
program for New York based small businesses that contract with the
federal government, especially for periods of federal government shut-
down

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1: Creates a new article to economic development program and
establishes definitions and criteria to participate in the program.
Directs the commissioner of EDC to promulgate rules and regulations for
the program

Section 2: Sets the effective date

 
JUSTIFICATION:

During periods of federal government shutdown, many federal employees
are asked to work without pay or are furloughed. Essential employees
continue to work with the expectation that they will receive back pay
once the shutdown ends. However, essential government contractors are
often not afforded this security. New York small businesses with federal
contracts are expected to continue to pay their employees while the
federal government ceases payment. This forces many businesses to take
drastic actions or default on their contracts, essentially shuttering
the entity. This situation is especially poignant for essential contrac-
tors that provide services like security to the government. The
contracted company is expected to pay their employees during the period
of the shutdown with diminishing liquid assets. This legislation would
establish a loan program overseen by EDC to grant payroll loans to
eligible companies. The loan would be repaid within one year of the
federal government making repayments to the contracted company.

 
PRIOR LEGISLATIVE HISTORY:

This is a new bill.

 
FISCAL IMPLICATIONS:

To be determined

 
EFFECTIVE DATE:
This act shall take effect immediately.

2021-S3766 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3766
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 30, 2021
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Commerce, Economic  Devel-
   opment and Small Business
 
 AN  ACT  to  amend the economic development law, in relation to creating
   the federal contract workers assistance program

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  economic  development law is amended by adding a new
 article 23 to read as follows:
                                ARTICLE 23
                         FEDERAL CONTRACT WORKERS
                            ASSISTANCE PROGRAM
 SECTION 450. ELIGIBILITY CRITERIA.
         451. APPLICATION AND APPROVAL PROCESS.
         452. FEDERAL CONTRACT WORKER ASSISTANCE PROGRAM.
   § 450. ELIGIBILITY CRITERIA. 1. IN ORDER TO PARTICIPATE IN THE FEDERAL
 CONTRACT WORKERS ASSISTANCE PROGRAM, A BUSINESS ENTITY MUST SATISFY  THE
 FOLLOWING CRITERIA:
   (A) THE BUSINESS ENTITY MUST BE A SMALL BUSINESS;
   (B)  THE  BUSINESS  ENTITY  MUST  DEMONSTRATE  THAT IT CURRENTLY HAS A
 CONTRACT WITH THE FEDERAL GOVERNMENT; AND
   (C) THE BUSINESS ENTITY MUST DEMONSTRATE THAT THEIR BUSINESS HAS  BEEN
 NEGATIVELY AFFECTED FINANCIALLY DUE TO A FEDERAL GOVERNMENT SHUTDOWN.
   2.  FOR  PURPOSES OF THIS ARTICLE THE TERM "SMALL BUSINESS" SHALL HAVE
 THE SAME MEANING AS SECTION ONE HUNDRED THIRTY-ONE OF THIS CHAPTER.
   § 451. APPLICATION AND APPROVAL PROCESS. 1.  A  BUSINESS  ENTITY  MUST
 SUBMIT A COMPLETED APPLICATION IN SUCH FORM AND WITH SUCH INFORMATION AS
 PRESCRIBED BY THE COMMISSIONER.
   2. AS PART OF SUCH APPLICATION, EACH BUSINESS ENTITY MUST:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05110-01-1

 S. 3766                             2
 
   (A)  PROVIDE  SUCH  DOCUMENTATION  AS  THE COMMISSIONER MAY REQUIRE IN
 ORDER FOR THE COMMISSIONER TO DETERMINE  THAT  THE  BUSINESS  ENTITY  IS
 ELIGIBLE FOR THE PROGRAM;
   (B) AGREE TO ALLOW THE DEPARTMENT OF TAXATION AND FINANCE TO SHARE ITS
 TAX  INFORMATION WITH THE DEPARTMENT. HOWEVER, ANY INFORMATION SHARED AS
 A RESULT OF THIS AGREEMENT SHALL NOT  BE  AVAILABLE  FOR  DISCLOSURE  OR
 INSPECTION UNDER THE STATE FREEDOM OF INFORMATION LAW;
   (C)  AGREE  TO  ALLOW  THE  DEPARTMENT  OF  LABOR TO SHARE ITS TAX AND
 EMPLOYER INFORMATION  WITH  THE  DEPARTMENT.  HOWEVER,  ANY  INFORMATION
 SHARED  AS A RESULT OF THIS AGREEMENT SHALL NOT BE AVAILABLE FOR DISCLO-
 SURE OR INSPECTION UNDER THE STATE FREEDOM OF INFORMATION LAW;
   (D) ALLOW THE DEPARTMENT AND ITS AGENTS ACCESS TO ANY  AND  ALL  BOOKS
 AND RECORDS THE DEPARTMENT MAY REQUIRE TO MONITOR COMPLIANCE; AND
   (E)  CERTIFY,  UNDER  PENALTY  OF  PERJURY,  THAT IT IS IN SUBSTANTIAL
 COMPLIANCE WITH ALL ENVIRONMENTAL, WORKER PROTECTION, AND LOCAL,  STATE,
 AND FEDERAL TAX LAWS.
   §  452.  FEDERAL  CONTRACT WORKER ASSISTANCE PROGRAM. 1. THE STATE MAY
 PROVIDE LOANS TO BE ADMINISTERED BY THE DEPARTMENT  TO  ASSIST  BUSINESS
 ENTITIES  WHICH  MEET  THE CRITERIA OF SECTION FOUR HUNDRED FIFTY-ONE OF
 THIS ARTICLE AND WHOSE  APPLICATIONS  HAVE  BEEN  APPROVED  PURSUANT  TO
 SECTION FOUR HUNDRED FIFTY-ONE OF THIS ARTICLE.
   2.  ALL  LOANS  SHALL  BE  REPAID BY THE BUSINESS ENTITY WITHIN TWELVE
 CALENDAR MONTHS FROM WHEN SUCH FUNDS ARE DISBURSED TO THE BUSINESS ENTI-
 TY.
   3. SUCH LOANS SHALL ONLY BE USED BY THE BUSINESS  ENTITY  FOR  PAYROLL
 PURPOSES.
   4.  THE  AMOUNT  OF SUCH LOANS SHALL BE DETERMINED BY THE COMMISSIONER
 BUT SHALL NOT EXCEED THE AMOUNT MADE  AVAILABLE  THEREFOR  BY  APPROPRI-
 ATION.
   5.  THE  COMMISSIONER  SHALL  PROMULGATE  RULES  AND  REGULATIONS  FOR
 PURPOSES OF CARRYING OUT THE PROVISIONS OF THIS ARTICLE.
   § 2. This act shall take effect immediately.

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Senate Bill S3766

Sponsored By

Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee

2021-S3766 (ACTIVE) - Details

2021-S3766 (ACTIVE) - Summary

2021-S3766 (ACTIVE) - Sponsor Memo

2021-S3766 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S3766

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Sponsored By

Leroy Comrie

Archive: Last Bill Status - In Senate Committee Commerce, Economic Development And Small Business Committee

2021-S3766 (ACTIVE) - Details

2021-S3766 (ACTIVE) - Summary

2021-S3766 (ACTIVE) - Sponsor Memo

2021-S3766 (ACTIVE) - Bill Text download pdf

Comments