New York State Assembly

 
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A06140 Summary:

A06140 Actions:

A06140 Committee Votes:

Committee:SMALL BUSINESS   Chair:Stirpe      
DATE:05/09/2023AYE/NAY:17/0  Action: Favorable refer to committee Ways and Means        
Stirpe
Aye
McGowan
Aye
Woerner
Aye
Byrnes
Aye
Dickens
Aye
Brown
Aye
Jones
Aye
Bendett
Aye
Darling
Aye
Novakhov
Aye
Gallagher
Aye
Jackson
Aye
Clark
Aye
Rajkumar
Aye
De Los Santos
Aye
Chandler-Waterm
Aye
Zaccaro
Aye

Committee:WAYS AND MEANS   Chair:Weinstein      
DATE:05/16/2023AYE/NAY:34/0  Action: Favorable refer to committee Rules        
Weinstein
Aye
Ra
Aye
Glick
Aye
Fitzpatrick
Aye
Pretlow
Aye
Hawley
Aye
Colton
Aye
Blankenbush
Aye
Cook
Aye
Norris
Aye
Aubry
Aye
Brabenec
Aye
Benedetto
Aye
Palmesano
Aye
Weprin
Aye
Walsh
Aye
Ramos
Aye
DeStefano
Aye
Braunstein
Aye
Manktelow
Aye
McDonald
Aye
Smullen
Aye
Rozic
Aye
Dinowitz
Aye
Joyner
Aye
Magnarelli
Aye
Zebrowski
Aye
Bronson
Aye
Dilan
Aye
Seawright
Aye
Hyndman
Aye
Walker
Excused
Bichotte Hermel
Aye
Simon
Aye
Cruz
Aye

Committee:RULES   Chair:Pretlow      
DATE:05/22/2023AYE/NAY:27/0  Action: Favorable         
Heastie
Excused
Barclay
Aye
Weinstein
Aye
Hawley
Excused
Pretlow
Aye
Giglio
Aye
Cook
Aye
Blankenbush
Aye
Glick
Excused
Norris
Aye
Aubry
Aye
Ra
Aye
Dinowitz
Aye
Brabenec
Aye
Colton
Aye
Palmesano
Aye
Magnarelli
Aye
Reilly
Aye
Paulin
Aye
Peoples-Stokes
Aye
Benedetto
Aye
Lavine
Aye
Lupardo
Aye
Zebrowski
Aye
Thiele
Aye
Braunstein
Aye
Dickens
Aye
Davila
Aye
Hyndman
Excused
Rozic
Aye
Bronson
Aye

A06140 Floor Votes:

A06140 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         6140--A
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                      April 3, 2023
                                       ___________
 
        Introduced  by  M. of A. COOK -- read once and referred to the Committee
          on Small Business  --  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 requiring the small business revolving loan fund to target
          and  market to veteran-owned enterprises and service-disabled veteran-
          owned enterprises
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subdivision 3 of section 16-t of section 1 of chapter 174
     2  of the laws of 1968, constituting the New York state  urban  development
     3  corporation  act,  as  amended  by  chapter  254 of the laws of 2016, is
     4  amended to read as follows:
     5    3. Program loans to small businesses  and  micro-businesses  shall  be
     6  targeted  and marketed to minority and women-owned enterprises, veteran-
     7  owned enterprises as set  forth  in  15  U.S.C.  section  632(Q)(3),  as
     8  amended  from  time  to  time, and service-disabled veteran-owned enter-
     9  prises as set forth in article three of the veterans' services law,  and
    10  other  small  businesses and micro-businesses that are having difficulty
    11  accessing traditional credit markets. Program loans to small  businesses
    12  and  micro-businesses  shall  be  used for the creation and retention of
    13  jobs, as defined by the corporation, including: (a) working capital; (b)
    14  the acquisition and/or improvement of real property; (c) the acquisition
    15  of machinery and equipment, property or improvement; or  (d)  the  refi-
    16  nancing  of  debt obligations. There shall be two categories of loans to
    17  small businesses and micro-businesses: a micro loan that  shall  have  a
    18  principal  amount  that  is less than twenty-five thousand dollars and a
    19  regular loan that shall have a principal amount not  less  than  twenty-
    20  five  thousand  dollars.  Prior  to receiving program funds, the lending
    21  organization must certify to the corporation  that  such  loan  complies
    22  with  this section and rules and regulations promulgated for the program
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04336-02-3
        A. 6140--A                          2
 
     1  and that the lending organization has performed its obligations pursuant
     2  to and is in compliance with this section, the program rules  and  regu-
     3  lations  and all agreements entered into between the corporation and the
     4  lending  organization.  The  program  funds  amount  used by the lending
     5  organization to fund a program applicant loan shall  not  be  more  than
     6  fifty  percent  of  the principal amount of such loan. The program funds
     7  amount used by the lending organization to fund a program applicant loan
     8  shall not be greater than one hundred and twenty-five thousand  dollars.
     9  Minority-  and  women-owned  business  enterprises, veteran-owned enter-
    10  prises as set forth in 15 U.S.C. section 632(Q)(3), as amended from time
    11  to time, and service-disabled veteran-owned enterprises as set forth  in
    12  article  three of the veterans' services law, and other small businesses
    13  or micro-businesses who access such program loans under this subdivision
    14  shall not be precluded from accessing such  short-term  financing  loans
    15  provided under subdivision eleven of this section.
    16    § 2. This act shall take effect immediately.