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S00702 Summary:

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S00702 Committee Votes:

S00702 Floor Votes:

S00702 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                           702
 
                               2023-2024 Regular Sessions
 
                    IN SENATE
 
                                     January 6, 2023
                                       ___________
 
        Introduced by Sens. COMRIE, RAMOS -- read twice and ordered printed, and
          when printed to be committed to the Committee on Corporations, Author-
          ities and Commissions
 
        AN ACT to amend the New York state urban development corporation act, in
          relation to assistance for certain small businesses

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision 1 of section 16-m of section 1 of  chapter  174
     2  of  the  laws of 1968, constituting the New York state urban development
     3  corporation act, is amended by adding a new paragraph  (p)  to  read  as
     4  follows:
     5    (p)  Assistance to small businesses engaged in dry cleaning or appear-
     6  ance enhancement businesses which practice nail specialty to make  capi-
     7  tal improvements through grants and flexible financing programs, includ-
     8  ing,  but not limited to, loan loss reserve and revolving loan programs,
     9  working capital loans, working capital loan guarantees, or other  flexi-
    10  ble  financing programs that leverage traditional financing. Such finan-
    11  cial assistance shall be used to assist:   (i) dry  cleaning  businesses
    12  for  the  purchase and installation of non-perchlorethylene machines and
    13  sprinkler systems to comply with state and local codes, rules and  regu-
    14  lations;  and (ii) appearance enhancement businesses which practice nail
    15  specialty to make capital improvements and upgrades to mechanical venti-
    16  lation systems that are necessary to  comply  with  federal,  state  and
    17  local  indoor air quality codes, rules and regulations. The corporation,
    18  in consultation  with  the  environmental  facilities  corporation,  the
    19  department  of  environmental conservation and the department of health,
    20  shall promulgate all necessary rules and regulations to  facilitate  and
    21  administer  such assistance program. For the purposes of this paragraph,
    22  "small businesses" shall have the same meaning as defined in section one
    23  hundred thirty-one of the economic development law.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03028-01-3
        S. 702                              2
 
     1    § 2. This act shall take effect on the ninetieth day  after  it  shall
     2  have  become a law; provided, however, the amendments to subdivision one
     3  of section 16-m of section 1 of chapter 174 of the laws of 1968, consti-
     4  tuting the New York state urban development  corporation  act,  made  by
     5  section one of this act, shall not affect the expiration of such section
     6  and  shall  be  deemed  to  expire therewith. Effective immediately, the
     7  addition, amendment, and/or repeal of any rule or  regulation  necessary
     8  for  the implementation of this act on its effective date are authorized
     9  to be made and completed on or before such effective date.