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NY A09418
Bill
Status
Engrossed
5/24/2016
Primary Sponsor
Fred Thiele
Click for details
AI Summary
- Repeals and replaces subdivision 14 of section 16-t of the New York State Urban Development Corporation Act regarding required reporting
- Requires lending organizations to submit quarterly program status updates to the corporation beginning September 1, 2016, including number of applicants, approved/denied applications, loans made and amounts, loan repayment and default rates, and intended loan uses
- Mandates quarterly publication of lending data on the corporation's website
- Requires the corporation to submit an annual performance report starting January 1, 2017, compiling quarterly data and describing economic development generated, jobs created or retained, and loan fund status
- Takes effect immediately upon enactment
Legislative Description
Requires lending organizations to submit annual reports to the corporation.
Last Action
REFERRED TO BANKS
5/24/2016
Committee Referrals
Banks5/24/2016
Banks3/3/2016
Full Bill Text
No bill text available