NY S07423

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.

Provides grants and flexible financing including loan loss reserves, revolving loans, working capital loans, and loan guarantees for capital improvements and equipment upgrades.

Requires dry cleaning businesses to use assistance for purchasing and installing non-perchlorethylene machines and sprinkler systems to comply with state and local codes.

Requires nail specialty appearance enhancement businesses to use assistance for mechanical ventilation system upgrades necessary to meet federal, state, and local indoor air quality regulations.

Takes effect 90 days after becoming law, with the authorization to promulgate necessary rules and regulations effective immediately.