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NY A02586

Bill

Official Source

Status

Introduced

1/16/2013

Primary Sponsor

William Scarborough

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Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Amends the New York State Urban Development Corporation Act to expand eligible uses for program loans to small businesses
  • Adds short-term financing for performing contracts to provide construction or professional services for state procurement purposes as an allowable loan use
  • Maintains existing eligible uses including acquisition of machinery and equipment, property or improvement, and refinancing of debt obligations
  • Takes effect immediately upon enactment

Legislative Description

Relates to program loans to small businesses; authorizes such loans to be used for short term financing for the purpose of performing contracts to provide for construction or professional services for state procurement purposes.

Last Action

print number 2586a

1/22/2014

Committee Referrals

Small Business1/16/2013

Full Bill Text

No bill text available