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S2846Senate2019-2020 SessionSame asA7309

Pay Small Business Grants Faster

Official title

“Relates to requiring the payment of small business grants within one hundred twenty days of notification of such funding”

Sponsor Michael H. RanzenhoferSD-61+5 co-sponsorsAffects Environment & Energy
Status
In Senate Committee
Energy And Telecommunications
Impact
4/10
Low
Passage
0%

Bill progress

Step 2 of 7

In committee · Energy And Telecommunications

What's happening

This bill requires small business grants administered by the state to be paid within 120 days of award notification.

Why it matters

  1. Faster access to funds can help small businesses address urgent needs. such as payroll, rent, or inventory—by ensuring they actually receive grant money within a set timeframe, rather than facing unpredictable delays.

  2. Greater predictability and accountability in state grant administration. means small businesses can plan and budget more effectively, knowing when their awarded funds will arrive.

  3. Could reduce financial strain and uncertainty for entrepreneurs. , potentially preventing cash flow crises or missed opportunities caused by late payments.

  4. May improve trust in state-run grant programs. , encouraging more eligible businesses to apply for assistance, knowing the process is more reliable and timely.

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Who cares

Headline styles

Pay Small Business Grants Faster

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Michael H. Ranzenhofer

Senator · Senate District 61

History

  1. Referred to energy and telecommunications
  2. Returned to senate
  3. Died in assembly
  4. Referred to corporations, authorities and commissions
  5. Delivered to assembly
  6. Passed senateVote 58–0
  7. Advanced to third reading
  8. 2nd report cal.
  9. 1st report cal.123
  10. Referred to energy and telecommunications

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.

A7309Assembly

Pay Small Business Grants Faster

In Assembly Committee · Corporations, Authorities And Commissions · Sponsor Robin Schimminger

Impact 5 · Moderate0% to pass

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

2846

2019-2020 Regular Sessions

IN SENATE

January 29, 2019

Introduced by Sens. RANZENHOFER, AKSHAR, FUNKE, HELMING, RITCHIE, SERINO -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Telecommunications

AN ACT to amend the public authorities law, in relation to requiring the payment of small business grants within one hundred twenty days of notification of such funding

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Subdivision 14 of section 1854 of the public authorities law, as added by chapter 83 of the laws of 1995, is amended to read as follows:

14. (a) To apply for and to administer federal research and development grants and other monies for the benefit of consumers.

(b) To make payments to small businesses, as defined by subdivision eight of section one hundred two of the state administrative procedure act, for grants administered by the authority. Payment of such grants shall be made no later than one hundred twenty days after notification of such funding award.

§ 2. This act shall take effect immediately.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD01620-01-9

Reflowed for reading: line numbers and page breaks removed. Cite the official text.

Sponsor's memo

Title of bill

An act to amend the public authorities law, in relation to requiring the payment of small business grants within one hundred twenty days of notification of such funding

Purpose

To ensure that the payment of grants by NYSERDA to small businesses is made no later than 120 days after the notification of such funding award.

Summary of provisions

Section 1 - amends subdivision 14 of section 1854 of the Public Authori- ties Law to provide that the New York State Energy and Research Develop- ment Authority (NYSERDA) must make payments of grants to small busi- nesses as defined by section 102 of the State Administrative Procedure Act within 120 days after the notification of the grant.

Section 2 - provides that this act shall take effect immediately.

Justification

There is often a lengthy delay between the time a small business is notified that it is the recipient of a grant and the time when the grant funds are actually received. This bill will ensure that small busi- nesses, as defined in section 102 of the State Administrative Act, will receive their grants from NYSERDA on a timely basis. Currently, NYSERDA grants can be subject to lengthy delays. Once a grant is announced, small businesses should be able to rely on the timely payment of the grant funds as they proceed with their planning and budgeting process. Long delays are unacceptable and can cause severe financial disruptions as businesses wait for funds they had been promised and reasonably expected would be forthcoming.

Legislative history

2014 - S.6544/A.9983 PASSED SENATE/Corporations 2015-16 - S.3082/A.5995 - PASSED SENATE/Corporations 2017-18 - S.3144/A.4499 - PASSED SENATE/Corporations

Fiscal implications

None to state.

Effective date

This act shall take effect immediately.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.