NY A09301

Authorizes local industrial development agencies to provide loans and grants to small businesses (50 or fewer employees) that suffer losses during state or local emergencies declared by the governor or county executive

Caps individual disaster emergency loans at $25,000 per eligible entity, with businesses prohibited from receiving loans from more than one agency per emergency

Defines "qualified business losses" as structural damage, inventory losses (including shipping delays and spoiled perishables from power outages), and revenue losses caused by the emergency

Requires agencies to adopt uniform criteria for evaluating applicants, including pre-emergency financial viability, creditworthiness, proposed use of funds, and job retention efforts

Exempts any deferred or waived loan interest from state taxes and requires loan applications to be submitted within 30 days after the emergency ends