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NY S09022
Bill
Status
10/2/2020
Primary Sponsor
Brian Benjamin
Click for details
AI Summary
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Establishes the "Save Merchants and Retail Tenants (SMART) Act" to create a temporary state assistance fund providing legal services to eligible small businesses, nonprofits, and other entities in bankruptcy proceedings.
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Covers businesses that conducted a majority of operations in New York, were adversely affected by COVID-19 or state-enforced public health restrictions, and filed for bankruptcy under the federal Small Business Reorganization Act before March 27, 2021.
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Provides legal services for filing and prosecution under chapter eleven of the federal bankruptcy code, with access terminating upon case dismissal, United States trustee recommendation, or bankruptcy judge recommendation.
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Designates the New York Office of Court Administration as administrator, responsible for implementing the program by October 1, 2020, establishing performance measures, monitoring service quality, and distributing funds to legal services providers.
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Excludes coverage for appeals and requires the state to appropriate sufficient funds as determined by the administrator in consultation with the director of the division of the budget.
Legislative Description
Establishes a temporary state assistance fund to provide legal counsel for bankruptcy proceedings under chapter eleven of the federal bankruptcy code and provides for the administration thereof.
Last Action
REFERRED TO RULES
10/2/2020