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NY A09524
Bill
Status
Introduced
1/19/2018
Primary Sponsor
Ron Kim
Click for details
AI Summary
- Amends the New York State Urban Development Corporation Act to authorize financial assistance programs for small businesses in dry cleaning and nail specialty appearance enhancement sectors
- Establishes grants and flexible financing options including loan loss reserves, revolving loans, working capital loans, and loan guarantees to help these businesses make capital improvements
- Directs assistance to dry cleaners for purchasing and installing non-perchlorethylene machines and sprinkler systems to comply with state and local codes
- Directs assistance to nail specialty businesses for mechanical ventilation system upgrades necessary to comply with federal, state, and local indoor air quality regulations
- Requires the Urban Development Corporation to consult with the Environmental Facilities Corporation, Department of Environmental Conservation, and Department of Health to develop rules and regulations for the program; takes effect 90 days after enactment
Legislative Description
Relates to assistance for certain small businesses including dry cleaners and those that practice nail specialty for necessary code related improvements.
Last Action
substituted by s7423
5/31/2018
Committee Referrals
Ways and Means5/1/2018
Small Business1/19/2018
Full Bill Text
No bill text available