* § 16-hh. Small business and entrepreneurs grant program. 1. The
corporation shall establish and support, within available
appropriations, the small business and entrepreneurs grant program, as a
two-year pilot initiative of the corporation, to award grants of up to
twenty-five thousand dollars, but no less than five thousand dollars, to
entrepreneurs and small business owners to cover start up costs of a new
small business, or to support or expand an existing small business in
New York state. The corporation shall establish criteria for selection
and designation of awardees which shall include, without limitation, the
following requirements:

(a) any applicant for a grant under this program shall have
successfully completed a training program at an entrepreneurship
assistance center established pursuant to section 211 of the economic
development law;

(b) an entrepreneur or small business owner shall not be eligible for
more than one award under this program for the same small business; and

(c) the recipient of the grant shall agree to maintain the operations
of the small business for which the grant was approved physically
located in the state for at least two years after receipt of the grant,
to the extent the business remains operational. Provided however that if
within two years of receiving the grant, such business is found to have
moved its operations outside the state, the department may seek to
recapture the funds or a portion thereof.

2. The corporation may promulgate guidelines necessary to effectuate
the purposes of this section including, but not limited to, guidelines
setting forth procedures for submission and processing of grant
applications.

* NB Repealed July 2, 2025