Senate Bill S4324

2021-2022 Legislative Session

Relates to establishing the New York small business relief fund

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance 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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2021-S4324 (ACTIVE) - Details

See Assembly Version of this Bill:
A6447
Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Add §99-ii, St Fin L
Versions Introduced in 2023-2024 Legislative Session:
A5529

2021-S4324 (ACTIVE) - Summary

Establishes the New York small business relief fund consisting of monetary penalties imposed by the state liquor authority to provide grants to small businesses which have suffered economic hardship as a result of the COVID-19 pandemic.

2021-S4324 (ACTIVE) - Sponsor Memo

2021-S4324 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4324
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 3, 2021
                                ___________
 
 Introduced  by Sen. MARTUCCI -- read twice and ordered printed, and when
   printed to be committed to the Committee on Finance
 
 AN ACT to amend the state finance law, in relation to  establishing  the
   New York small business relief fund
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The state finance law is amended by adding  a  new  section
 99-ii to read as follows:
   §  99-II.  NEW  YORK  SMALL  BUSINESS  RELIEF FUND. 1. THERE IS HEREBY
 ESTABLISHED IN THE JOINT CUSTODY OF THE  COMMISSIONER  OF  TAXATION  AND
 FINANCE  AND  THE  COMPTROLLER A FUND TO BE KNOWN AS THE "NEW YORK STATE
 SMALL BUSINESS RELIEF FUND".
   2. THE FUND SHALL CONSIST OF ALL FINES OR PENALTIES COLLECTED  BY  THE
 STATE  LIQUOR  AUTHORITY  PURSUANT TO SECTION SEVENTEEN OF THE ALCOHOLIC
 BEVERAGE CONTROL LAW.
   3. MONIES OF THE FUND, FOLLOWING  APPROPRIATION  BY  THE  LEGISLATURE,
 SHALL  BE  MADE  AVAILABLE  FOR  GRANTS  TO  SMALL BUSINESSES WHICH HAVE
 SUFFERED ECONOMIC HARDSHIP AS A RESULT OF THE COVID-19 PANDEMIC.
   4. FOR THE PURPOSES OF THIS SECTION (A) "SMALL BUSINESS" SHALL MEAN  A
 BUSINESS  EMPLOYING  ONE  HUNDRED  OR FEWER EMPLOYEES; AND (B) "ECONOMIC
 HARDSHIP" SHALL MEAN THAT A BUSINESS  HAS  EXPERIENCED  A  REVENUE  LOSS
 GREATER  THAN FORTY PERCENT BETWEEN APRIL TWO THOUSAND TWENTY AND DECEM-
 BER TWO THOUSAND TWENTY COMPARED TO THAT SAME TIME PERIOD IN THE  PREVI-
 OUS YEAR.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08929-01-1

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