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S07423 Summary:

S07423 Actions:

S07423 Committee Votes:

S07423 Floor Votes:

S07423 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7423
 
                    IN SENATE
 
                                    January 17, 2018
                                       ___________
 
        Introduced  by  Sen.  AVELLA -- read twice and ordered printed, and when
          printed to be committed to the Committee on Corporations,  Authorities
          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  (o)  to  read  as
     4  follows:
     5    (o)  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.
    24    § 2. This act shall take effect on the ninetieth day  after  it  shall
    25  have  become a law; provided, however, the amendments to subdivision one
    26  of section 16-m of section 1 of chapter 174 of the laws of 1968, consti-
    27  tuting the New York state urban  development  corporation  act  made  by
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11189-03-7
        S. 7423                             2
 
     1  section  one of this act shall not affect the expiration of such section
     2  and shall be deemed to expire  therewith;  provided,  further,  however,
     3  that  effective  immediately,  the addition, amendment, and/or repeal of
     4  any  rule  or regulation necessary for the implementation of this act on
     5  its effective date are authorized to be made and completed on or  before
     6  such effective date.