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NY A05529

Bill

Official Source

Status

Introduced

3/16/2023

Primary Sponsor

Karl Brabenec

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Establishes the "New York state small business relief fund" under joint custody of the Commissioner of Taxation and Finance and the Comptroller
  • Fund consists of all fines and penalties collected by the State Liquor Authority pursuant to section 17 of the Alcoholic Beverage Control Law
  • Directs fund monies (following legislative appropriation) to be distributed as grants to small businesses experiencing COVID-19 pandemic-related economic hardship
  • Defines "small business" as any business employing 100 or fewer employees
  • Defines "economic hardship" as revenue loss greater than 40 percent between April 2020 and December 2020 compared to the same period in the previous year

Legislative Description

Establishes the New York small business relief fund consisting of monetary penalties imposed by the state liquor authority to provide grants to small businesses which have suffered economic hardship as a result of the COVID-19 pandemic.

Last Action

referred to small business

1/3/2024

Committee Referrals

Small Business3/16/2023

Full Bill Text

No bill text available