What's happening
This bill provides loans, grants, and assistance to small businesses impacted or displaced by state and local infrastructure projects.
Why it matters
Targets Small, Locally-Owned Businesses. The bill specifically supports independently owned and operated small businesses with 100 or fewer full-time employees, recognizing their unique vulnerability to disruptions from public works projects.
Aims to Prevent Business Closures and Job Losses. By offering loans, grants, and interest subsidies, the legislation seeks to help businesses stay afloat during infrastructure projects, with the goal of retaining or creating permanent private sector jobs in affected communities.
Covers a Broad Range of Infrastructure Impacts. The assistance is not limited to just highway or bridge work, but also includes water treatment and sewer projects, acknowledging the wide variety of state and local projects that can disrupt business operations.
Links Financial Support to Economic Outcomes. Businesses must demonstrate that receiving funding will result in the retention or creation of jobs, tying public investment directly to measurable economic benefits for the state.
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Who cares
Headline styles
Aid for Disrupted Small Businesses
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
History
- Referred to ways and means
- Reported referred to ways and means
- Referred to economic development
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Aid for Disrupted Small Businesses
In Senate Committee · Corporations, Authorities And Commissions · Sponsor Phil Boyle
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2020
2017-2018 Regular Sessions
IN ASSEMBLY
January 17, 2017
Introduced by M. of A. SCHIMMINGER, McKEVITT -- read once and referred to the Committee on Economic Development
AN ACT to amend the urban development corporation act and the state finance law, in relation to businesses impacted or dislocated by state and local infrastructure projects
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 1 of section 16-m of section 1 of chapter 174 of the laws of 1968, constituting the New York state urban development corporation act, is amended by adding a new paragraph (o) to read as follows:
(o) Loans, loan guarantees and grants including interest subsidy grants to businesses impacted or dislocated by state and local infrastructure projects including, but not limited to, highway, bridge, water treatment and sewer projects.
§ 2. Subdivision 11 of section 213 of the state finance law is amended by adding a new paragraph (h) to read as follows:
(h) any business that is significantly impacted or dislocated by state and local infrastructure projects including, but not limited to, highway, bridge, water treatment and sewer projects, is independently owned and operated, employs one hundred or fewer persons on a full-time basis within the state, and by seeking financing through the program or a project, will result in the retention or creation of permanent private sector jobs within the state.
§ 3. This act shall take effect immediately; provided, however, that the amendments to section 16-m of the urban development corporation act made by section one of this act shall not affect the expiration of such section and shall be deemed to expire therewith.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05806-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.