NY S03736

Requires applications for state-funded loan projects to include detailed written terms such as interest rates, repayment dates, job retention/creation requirements, clawback provisions, security provisions, and guarantees

Mandates that grant project applications include written descriptions of how funds will be used, total project cost, all funding sources, property ownership details, lease agreements, and conditions on grantees

Requires all loan or grant projects with job retention or creation requirements to include clawback provisions if job targets are not met, with binding letters of agreement from recipients acknowledging these requirements before disbursement

Establishes an advisory opinion process allowing public benefit corporations to submit preliminary projects for non-binding comment from the Public Authorities Control Board and State Comptroller within 30 days

Takes effect immediately upon enactment