NY A02241

Amends the New York State Urban Development Corporation Act to authorize assistance programs for small businesses in dry cleaning and nail specialty appearance enhancement sectors

Establishes grants and flexible financing programs including loan loss reserves, revolving loans, working capital loans, and loan guarantees to help eligible businesses make capital improvements

Directs assistance funds toward dry cleaning businesses purchasing and installing non-perchlorethylene machines and sprinkler systems to comply with state and local codes

Directs assistance funds toward nail specialty businesses upgrading mechanical ventilation systems to meet federal, state, and local indoor air quality requirements

Takes effect 90 days after enactment, with rules and regulations to be developed by the corporation in consultation with the Environmental Facilities Corporation, Department of Environmental Conservation, and Department of Health