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NY A00343
Bill
Status
1/8/2025
Primary Sponsor
Catalina Cruz
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AI Summary
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Creates the "Save Merchants and Retail Tenants (SMART) Act" establishing a temporary state fund to provide free legal services to small businesses filing for bankruptcy under Chapter 11
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Covers small businesses, non-profits, LLCs, limited partnerships, and other entities that conduct most of their business in New York and were adversely affected by COVID-19 or related public health restrictions
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Eligible businesses must file for bankruptcy under the federal Small Business Reorganization Act (as amended by the CARES Act) before March 27, 2026
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Designates the New York Office of Court Administration as administrator, with implementation required by October 1, 2025, and authority to establish performance measures, distribute funds, and monitor legal service quality
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Legal services terminate upon dismissal of the bankruptcy proceeding, at the recommendation of the U.S. trustee or bankruptcy judge, and do not extend to appeals
Legislative Description
Establishes a temporary state assistance fund to provide legal counsel for bankruptcy proceedings under chapter eleven of the federal bankruptcy code; provides for the administration thereof.
Last Action
referred to judiciary
1/7/2026