Authorizes and directs the Empire State Development Corporation to allow small businesses, nonprofits, and landlords impacted by 2020 demonstrations and related civil unrest involving property damage, vandalism, and theft or vandalism for unknown reasons to be eligible for loans under the New York Forward Loan Fund.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A10620A
SPONSOR: Rules (Sayegh) TITLE OF BILL:
An act directing the Empire State Development Corporation to allow small
businesses, nonprofits, and landlords impacted by 2020 civil rights
demonstrations and related civil unrest involving property damage,
vandalism, and theft or vandalism for unknown reasons to be eligible for
loans under the New York Forward Loan Fund
PURPOSE OR GENERAL IDEA OF BILL:
Directs the Empire State Development Corporation to allow small busi-
nesses, non-profits, and landlords impacted.by 2020 civil rights demon-
strations and related civil unrest access to the. New York Forward-Loan
Fund
SUMMARY OF PROVISIONS:
Section 1 authorizes and directs the Empire State Development Corpo-
ration to allow small businesses as defined by section 131 of the
economic development law, organizations organized under the non-profit
or not-for-profit laws of this state possessing a p01(c) exemption, and
landlords to be eligible for loans under the New York Forward Loan Fund
Section 2 establishes effective date
DIFFERENCE BETWEEN ORIGINAL AND AMENDED VERSION (IF APPLICABLE):
N/A
JUSTIFICATION:
In the aftermath of the tragic death of George Floyd by a police officer
in Minneapolis, Minnesota on May 27th, 2020, many demonstrations have
taken place across .he United States to push for policing reforms,
protest injustice, and to advocate for civil rights. Many of these
demonstrations have taken place in New Fork state, with unscrupulous
actors taking advantage of these demonstrations to engage in criminal
acts including property damage, vandalism, and theft or valued small
businesses. This legislation would direct the Empire State Development
corporation to allow small business owners, nonprofits, and landlords
impacted by these demonstrations to be eligible for funding under the
newly established New York Forward Loan Fund.
PRIOR LEGISLATIVE HISTORY:
N/A.
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None
EFFECTIVE DATE:
This act shall take effect immediately
STATE OF NEW YORK
________________________________________________________________________
10620--A
IN ASSEMBLY
June 10, 2020
___________
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Sayegh,
Griffin, Paulin, Bronson, Galef, Byrne, Giglio) -- read once and
referred to the Committee on Economic Development -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT directing the Empire State Development Corporation to allow small
businesses, nonprofits, and landlords impacted by 2020 civil rights
demonstrations and related civil unrest involving property damage,
vandalism, and theft or vandalism for unknown reasons to be eligible
for loans under the New York Forward Loan Fund
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The Empire State Development Corporation is authorized and
2 directed to allow small businesses as defined in section 131 of the
3 economic development law, organizations organized under the non-profit
4 or not-for-profit laws of this state, and possessing a federal tax
5 exemption under section 501(c) of the Internal Revenue Code of the
6 United States, and landlords impacted by: (a) the 2020 demonstrations
7 and related civil unrest which began on May 27, 2020 involving property
8 damage, vandalism, and theft; or (b) vandalism for unknown reasons to be
9 eligible for loans under the New York Forward Loan Fund.
10 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD16613-03-0
