Assembly Bill A6916

2013-2014 Legislative Session

Relates to the small business revolving loan fund program

download bill text pdf

Sponsored By

Archive: Last 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2013-A6916 (ACTIVE) - Details

See Senate Version of this Bill:
S4359
Current Committee:
Assembly Small Business
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd §16-t, UDC Act
Versions Introduced in 2015-2016 Legislative Session:
S4828

2013-A6916 (ACTIVE) - Summary

Relates to the small business revolving loan fund program.

2013-A6916 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6916

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                             April 24, 2013
                               ___________

Introduced  by  M.  of A. SCARBOROUGH -- (at request of the Empire State
  Development) -- read once and referred to the Committee on Small Busi-
  ness

AN ACT to amend the urban development corporation act,  in  relation  to
  the small business revolving loan fund program

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Section 16-t of section 1 of chapter 174 of  the  laws  of
1968,  constituting the urban development corporation act, is amended by
adding a new subdivision 16 to read as follows:
  (16) AS PROVIDED IN THIS SUBDIVISION, THE CORPORATION IS AUTHORIZED TO
REALLOCATE TO THE PROGRAM FUNDS FROM THE REGIONAL REVOLVING  LOAN  TRUST
FUND, THE MINORITY AND WOMEN REVOLVING LOAN TRUST FUND, THE MICRO ENTER-
PRISE  REVOLVING  LOAN  TRUST FUND AND THE COMMERCIAL DISTRICT REVOLVING
LOAN TRUST FUND. FOR PROGRAM LOANS MADE  WITH  SUCH  REALLOCATED  FUNDS:
(A)  LOANS  PROVIDED  WITH FUNDS REALLOCATED FROM THE MINORITY AND WOMEN
REVOLVING LOAN TRUST FUND SHALL BE TO MINORITY BUSINESS ENTERPRISES,  AS
DEFINED  IN SUBDIVISION THREE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC
DEVELOPMENT LAW, AND WOMEN-OWNED BUSINESS  ENTERPRISES,  AS  DEFINED  IN
SUBDIVISION  FIVE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC DEVELOPMENT
LAW; (B) LOANS PROVIDED WITH FUNDS REALLOCATED FROM THE MICRO ENTERPRISE
REVOLVING LOAN TRUST FUND SHALL BE MICROLOANS  EQUAL  TO  OR  LESS  THAN
SEVEN  THOUSAND  DOLLARS TO MINORITY BUSINESS ENTERPRISES, AS DEFINED IN
SUBDIVISION THREE OF SECTION TWO HUNDRED TEN OF THE ECONOMIC DEVELOPMENT
LAW, AND WOMEN-OWNED BUSINESS ENTERPRISES,  AS  DEFINED  IN  SUBDIVISION
FIVE  OF  SECTION  TWO  HUNDRED TEN OF THE ECONOMIC DEVELOPMENT LAW; (C)
LOANS PROVIDED WITH  FUNDS  REALLOCATED  FROM  THE  COMMERCIAL  DISTRICT
REVOLVING  LOAN  TRUST FUND SHALL BE TO RETAIL BUSINESS WITHIN A COMMER-
CIAL DISTRICT; (D) TO THE EXTENT FEASIBLE, THE CORPORATION  SHALL  APPLY
THE  REALLOCATED  FUNDS  FROM  THE REGIONAL REVOLVING LOAN TRUST FUND SO
THAT PROGRAM ELIGIBLE BORROWERS IN ALL REGIONS OF THE STATE  SHALL  HAVE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08437-01-3

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.