NY A04103

Establishes the "save our small-business grant program" administered by the Division for Small Business in conjunction with regional economic development councils to provide grants to small businesses impacted by COVID-19.

Regional economic development councils must provide funding for the grant program and the Division for Small Business shall develop an application process published on their website.

Eligible applicants must demonstrate they suffered a qualifying hardship as a result of the COVID-19 pandemic, with qualifying hardships to be defined by the Division and published on the councils' website.

Grant awards are capped at a maximum of $50,000 per small business.

Program stops accepting new applications upon notification from the Director of the Budget that New York State's economic recovery has returned to pre-COVID-19 pandemic levels; the act takes effect 60 days after becoming law.