Senate Bill S1328

2015-2016 Legislative Session

Establishes a community capital loan program

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Sponsored By

Archive: Last Bill Status - In Senate Committee Social Services 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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2015-S1328 (ACTIVE) - Details

Current Committee:
Senate Social Services
Law Section:
Social Services Law
Laws Affected:
Add §131-bb, Soc Serv L
Versions Introduced in Other Legislative Sessions:
2009-2010: S415
2011-2012: S1444
2013-2014: S1188
2017-2018: S2801
2019-2020: S771
2021-2022: S1459

2015-S1328 (ACTIVE) - Summary

Provides that the department of labor in consultation with the department of family assistance is authorized and directed to solicit proposals to establish community loan programs providing small, no-interest loans to persons with income below 200% of the federal poverty level in order to become self-employed; requires the commissioner to contract with not-for-profit corps to administer loan pools.

2015-S1328 (ACTIVE) - Sponsor Memo

2015-S1328 (ACTIVE) - Bill Text download pdf

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

                                  1328

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 12, 2015
                               ___________

Introduced  by Sens. BRESLIN, DILAN, HASSELL-THOMPSON, KRUEGER, MONTGOM-
  ERY, PARKER, SAMPSON, STAVISKY -- read twice and ordered printed,  and
  when printed to be committed to the Committee on Social Services

AN ACT to amend the social services law, in relation to establishing the
  community  capital  loan  program  and  providing  for the filing of a
  report thereon

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

  Section  1. The social services law is amended by adding a new section
131-bb to read as follows:
  S 131-BB. COMMUNITY CAPITAL LOAN PROGRAM. 1. FROM AMOUNTS APPROPRIATED
FOR SUCH PURPOSE, THE DEPARTMENT  OF  LABOR  IN  CONSULTATION  WITH  THE
DEPARTMENT  OF  FAMILY  ASSISTANCE  IS HEREBY AUTHORIZED AND DIRECTED TO
SOLICIT PROPOSALS TO ESTABLISH PROGRAMS TO BE KNOWN AS COMMUNITY CAPITAL
LOAN PROGRAMS. SUCH PROGRAMS SHALL PROVIDE SMALL, NO-INTEREST  LOANS  TO
PERSONS  WITH  INCOME  BELOW  TWO HUNDRED PERCENT OF THE FEDERAL POVERTY
LEVEL FOR THE PURPOSE OF ASSISTING THE LOAN RECIPIENT TO BECOME SELF-EM-
PLOYED. LOANS AWARDED THROUGH A COMMUNITY CAPITAL LOAN  PROGRAM  MAY  BE
PAID  DIRECTLY  TO  A  THIRD  PARTY ON BEHALF OF A LOAN RECIPIENT AND IN
EITHER CASE SHALL NOT CONSTITUTE INCOME OR RESOURCES FOR THE PURPOSES OF
PUBLIC ASSISTANCE AND CARE SO  LONG  AS  THE  FUNDS  ARE  USED  FOR  THE
INTENDED PURPOSE.
  2.  THE COMMISSIONER OF LABOR SHALL ENTER INTO WRITTEN AGREEMENTS WITH
NOT-FOR-PROFIT ORGANIZATIONS OR LOCAL GOVERNMENT AGENCIES TO  ADMINISTER
LOAN  POOLS.  AGREEMENTS  SHALL  BE  ENTERED INTO WITH NO MORE THAN FOUR
ORGANIZATIONS AND/OR AGENCIES, NO  MORE  THAN  ONE  OF  WHICH  SHALL  BE
LOCATED IN THE CITY OF NEW YORK.
  3.  PROGRAM  SITES SHALL BE APPROVED BASED ON THE DEMONSTRATED ABILITY
OF THE ORGANIZATION  OR  GOVERNMENTAL  AGENCY  TO  SECURE  FUNDING  FROM
PRIVATE  AND/OR PUBLIC SOURCES SUFFICIENT TO ESTABLISH A LOAN POOL TO BE
MAINTAINED THROUGH REPAYMENT AGREEMENTS ENTERED INTO BY ELIGIBLE LOW-IN-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05440-01-5
              

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