Assembly Bill A7517A

2015-2016 Legislative Session

Relates to the administration of the regional revolving loan fund program

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions 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

Bill Amendments

2015-A7517 - Details

See Senate Version of this Bill:
S5494
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd §§16-a, 16-c, 16-d & 16-t, UDC Act
Versions Introduced in 2017-2018 Legislative Session:
A4253, S4046

2015-A7517 - Summary

Authorizes the empire state development corporation to administer several revolving loan fund (RLF) programs in a manner consistent with how the small business revolving loan fund is administered.

2015-A7517 - Bill Text download pdf

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

    S. 5494                                                  A. 7517

                       2015-2016 Regular Sessions

                      S E N A T E - A S S E M B L Y

                              May 14, 2015
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Corporations,
  Authorities and Commissions

IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
  to the Committee on Small Business

AN ACT to amend the New York state urban development corporation act, in
  relation to the regional revolving loan program

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

  Section  1.  Section  16-a  of section 1 of chapter 174 of the laws of
1968, constituting the New York state urban development corporation act,
is amended by adding a new subdivision 3-a to read as follows:
  (3-A) NOTWITHSTANDING SUBDIVISION THREE OF THIS SECTION, WHERE  APPLI-
CABLE,  THE CORPORATION IS AUTHORIZED TO ENTER INTO AGREEMENTS AS MAY BE
NECESSARY  FOR  THE  ADMINISTRATION  AND  REPORTING  OF  FUNDS   REPAID,
RECEIVED,  EXPENDED  OR  COLLECTED  IN  A  MANNER  CONSISTENT  WITH  THE
PROVISIONS IN SECTION SIXTEEN-T OF THIS ACT. THE USE OF  SUCH  FUNDS  BY
THE  CORPORATION  SHALL  BE  CONSISTENT  WITH  THE TERMS, CONDITIONS AND
RESTRICTIONS SET FORTH IN SUBDIVISION FOUR OF THIS SECTION,  TO  PROVIDE
FINANCIAL  ASSISTANCE  TO  ELIGIBLE  REGIONAL CORPORATIONS AS DEFINED IN
SUBDIVISION  EIGHTEEN  OF  SECTION  THREE  OF  THIS  ACT.    OUTSTANDING
EXPENSES,  LOANS  AND  OTHER OBLIGATIONS EXECUTED PRIOR TO THE EFFECTIVE
DATE OF THIS SUBDIVISION SHALL BE SUBJECT TO THE TERMS AND CONDITIONS OF
THE ORIGINAL CONTRACT OR CONTRACTS.
  S 2. Subdivision 20 of section 16-a of section 1 of chapter 174 of the
laws of 1968, constituting the New York state urban  development  corpo-
ration act, as amended by chapter 524 of the laws of 2005, is amended to
read as follows:
  (20)  Reporting.  (A)  THE  LENDING  ORGANIZATION  SHALL SUBMIT TO THE
CORPORATION ANNUAL REPORTS STATING: THE NUMBER OF  PROGRAM  LOANS  MADE;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08065-01-5
              

2015-A7517A (ACTIVE) - Details

See Senate Version of this Bill:
S5494
Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Amd §§16-a, 16-c, 16-d & 16-t, UDC Act
Versions Introduced in 2017-2018 Legislative Session:
A4253, S4046

2015-A7517A (ACTIVE) - Summary

Authorizes the empire state development corporation to administer several revolving loan fund (RLF) programs in a manner consistent with how the small business revolving loan fund is administered.

2015-A7517A (ACTIVE) - Bill Text download pdf

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

    S. 5494--A                                            A. 7517--A

                       2015-2016 Regular Sessions

                      S E N A T E - A S S E M B L Y

                              May 14, 2015
                               ___________

IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
  ed, and when printed to be committed to the Committee on Corporations,
  Authorities  and Commissions -- recommitted to the Committee on Corpo-
  rations, Authorities and Commissions in accordance with Senate Rule 6,
  sec. 8 -- committee discharged, bill  amended,  ordered  reprinted  as
  amended and recommitted to said committee

IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
  to the Committee on Small Business -- recommitted to the Committee  on
  Small Business in accordance with Assembly Rule 3, sec. 2 -- committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN ACT to amend the New York state urban development corporation act, in
  relation to the regional revolving loan program

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

  Section 1. Section 16-a of section 1 of chapter 174  of  the  laws  of
1968, constituting the New York state urban development corporation act,
is amended by adding a new subdivision 3-a to read as follows:
  (3-A)  NOTWITHSTANDING SUBDIVISION THREE OF THIS SECTION, WHERE APPLI-
CABLE, THE CORPORATION IS AUTHORIZED TO ENTER INTO AGREEMENTS AS MAY  BE
NECESSARY   FOR  THE  ADMINISTRATION  AND  REPORTING  OF  FUNDS  REPAID,
RECEIVED,  EXPENDED  OR  COLLECTED  IN  A  MANNER  CONSISTENT  WITH  THE
PROVISIONS  IN  SECTION  SIXTEEN-T OF THIS ACT. THE USE OF SUCH FUNDS BY
THE CORPORATION SHALL BE  CONSISTENT  WITH  THE  TERMS,  CONDITIONS  AND
RESTRICTIONS  SET  FORTH IN SUBDIVISION FOUR OF THIS SECTION, TO PROVIDE
FINANCIAL ASSISTANCE TO ELIGIBLE REGIONAL  CORPORATIONS  AS  DEFINED  IN
SUBDIVISION  EIGHTEEN  OF  SECTION  THREE  OF  THIS  ACT.    OUTSTANDING
EXPENSES, LOANS AND OTHER OBLIGATIONS EXECUTED PRIOR  TO  THE  EFFECTIVE
DATE OF THIS SUBDIVISION SHALL BE SUBJECT TO THE TERMS AND CONDITIONS OF
THE ORIGINAL CONTRACT OR CONTRACTS.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08065-02-6
              

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.