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NY A03160
Bill
Status
1/22/2021
Primary Sponsor
Ron Kim
Click for details
AI Summary
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Authorizes the New York State Urban Development Corporation to provide grants and flexible financing programs to small businesses in dry cleaning and nail specialty appearance enhancement sectors
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Financing assistance for dry cleaners covers purchase and installation of non-perchlorethylene machines and sprinkler systems to comply with state and local codes and regulations
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Financing assistance for nail specialty businesses covers mechanical ventilation system improvements necessary to comply with federal, state, and local indoor air quality codes and regulations
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Flexible financing programs include loan loss reserves, revolving loans, working capital loans, working capital loan guarantees, and other programs that leverage traditional financing
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Act takes effect 90 days after becoming law; the corporation shall consult with the Environmental Facilities Corporation, Department of Environmental Conservation, and Department of Health to develop rules and regulations
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
referred to ways and means
1/5/2022