What's happening
This bill requires New York to create an online tracking and notification system for loans and grants managed by state development agencies.
Why it matters
Increases transparency and oversight. by requiring state development agencies to publicly track loans and grants online, making it easier for the public, media, and watchdog groups to monitor where funds are going and how they are used.
Empowers businesses and individuals. by giving them the ability to sign up for email notifications about new grants, loans, and policy changes, helping them stay informed about opportunities and requirements as they emerge.
Could improve accountability and trust. in state economic development programs, as real-time access to information may deter misuse or misallocation of funds and foster confidence among taxpayers and applicants.
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Who cares
Headline styles
Track Loans and Grants Online
Plain English, a few words. Used as the page title.
Sponsors
1 Co-sponsor
History
- Referred to economic development
- Referred to economic development
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2224
2017-2018 Regular Sessions
IN ASSEMBLY
January 17, 2017
Introduced by M. of A. MONTESANO, LALOR -- read once and referred to the Committee on Economic Development
AN ACT to amend the economic development law, in relation to developing an online tracking system for loans and grants
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 47 of section 100 of the economic development law, as renumbered by chapter 427 of the laws of 2008, is renumbered subdivision 48 and a new subdivision 47 is added to read as follows:
47. to develop and implement, in conjunction with the empire state development corporation and the urban development corporation, an online tracking system for loans and grants administered through each respective entity. An email notification system through which individuals and companies can sign up for electronic notification of grants, loans, policy changes and other general information shall also be made readily available to the public.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06086-01-7
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.