Assembly Bill A5529

2023-2024 Legislative Session

Relates to establishing the New York small business relief fund

download bill text pdf

Sponsored By

Current 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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2023-A5529 (ACTIVE) - Details

Current Committee:
Assembly Small Business
Law Section:
State Finance Law
Laws Affected:
Add §99-qq, St Fin L
Versions Introduced in 2021-2022 Legislative Session:
A6447

2023-A5529 (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.

2023-A5529 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5529
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 16, 2023
                                ___________
 
 Introduced by M. of A. BRABENEC -- read once and referred to the Commit-
   tee on Small Business
 
 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-qq to read as follows:
   § 99-QQ. 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.
                                                            LBD08908-01-3

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