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NY A02752
Bill
Status
1/23/2017
Primary Sponsor
Fred Thiele
Click for details
AI Summary
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Repeals and replaces subdivision 14 of section 16-t of the New York state urban development corporation act regarding required reporting.
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Requires lending organizations to submit quarterly status updates to the corporation starting September 1, 2017, including the number of applicants, approved/denied applications, loans made and amounts, loan repayment rates, loan defaults, and intended use of funds.
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Mandates quarterly publication of lending organization data on the corporation's website.
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Requires the corporation to submit an annual performance report starting January 1, 2018, compiling quarterly data and describing economic development generated, jobs created or retained, leveraged funding, and loan fund balance.
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Makes the annual performance report available on the corporation's website and takes effect immediately upon enactment.
Legislative Description
Requires lending organizations to submit annual reports to the corporation.
Last Action
referred to small business
1/3/2018