NY A04251

Amends New York State Urban Development Corporation Act to authorize the corporation to administer and report funds from multiple revolving loan programs consistent with the Small Business Revolving Loan Fund provisions in Section 16-T.

Requires lending organizations to submit annual reports to the corporation detailing program loans made, funding used, loan proceeds use, jobs created or retained, economic development generated, and outstanding loan status.

Mandates the corporation publish all annual reports required under the amended sections on its website beginning January 1, 2016.

Applies the new administration framework to regional revolving loan programs, small business programs, and other designated loan funds while preserving existing contract terms for outstanding obligations executed before the effective date.