Bill Text: NY S01704 | 2023-2024 | General Assembly | Introduced

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Bill Title: Creates the federal contract workers assistance program to permit the state to provide loans to certain small businesses affected by the federal government shutdown.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2024-01-03 - REFERRED TO COMMERCE, ECONOMIC DEVELOPMENT AND SMALL BUSINESS [S01704 Detail]

Download: New_York-2023-S01704-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1704

                               2023-2024 Regular Sessions

                    IN SENATE

                                    January 13, 2023
                                       ___________

        Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Commerce, Economic  Devel-
          opment and Small Business

        AN  ACT  to  amend the economic development law, in relation to creating
          the federal contract workers assistance program

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

     1    Section  1.  The  economic  development law is amended by adding a new
     2  article 23 to read as follows:
     3                                 ARTICLE 23
     4                          FEDERAL CONTRACT WORKERS
     5                             ASSISTANCE PROGRAM
     6  Section 450. Eligibility criteria.
     7          451. Application and approval process.
     8          452. Federal contract worker assistance program.
     9    § 450. Eligibility criteria. 1. In order to participate in the federal
    10  contract workers assistance program, a business entity must satisfy  the
    11  following criteria:
    12    (a) The business entity must be a small business;
    13    (b)  The  business  entity  must  demonstrate  that it currently has a
    14  contract with the federal government; and
    15    (c) The business entity must demonstrate that their business has  been
    16  negatively affected financially due to a federal government shutdown.
    17    2.  For  purposes of this article the term "small business" shall have
    18  the same meaning as section one hundred thirty-one of this chapter.
    19    § 451. Application and approval process. 1.  A  business  entity  must
    20  submit a completed application in such form and with such information as
    21  prescribed by the commissioner.
    22    2. As part of such application, each business entity must:

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03568-01-3
        S. 1704                             2

     1    (a)  provide  such  documentation  as  the commissioner may require in
     2  order for the commissioner to determine  that  the  business  entity  is
     3  eligible for the program;
     4    (b) agree to allow the department of taxation and finance to share its
     5  tax  information with the department. However, any information shared as
     6  a result of this agreement shall not  be  available  for  disclosure  or
     7  inspection under the state freedom of information law;
     8    (c)  agree  to  allow  the  department  of  labor to share its tax and
     9  employer information  with  the  department.  However,  any  information
    10  shared  as a result of this agreement shall not be available for disclo-
    11  sure or inspection under the state freedom of information law;
    12    (d) allow the department and its agents access to any  and  all  books
    13  and records the department may require to monitor compliance; and
    14    (e)  certify,  under  penalty  of  perjury,  that it is in substantial
    15  compliance with all environmental, worker protection, and local,  state,
    16  and federal tax laws.
    17    §  452.  Federal  contract worker assistance program. 1. The state may
    18  provide loans to be administered by the department  to  assist  business
    19  entities  which  meet  the criteria of section four hundred fifty-one of
    20  this article and whose  applications  have  been  approved  pursuant  to
    21  section four hundred fifty-one of this article.
    22    2.  All  loans  shall  be  repaid by the business entity within twelve
    23  calendar months from when such funds are disbursed to the business enti-
    24  ty.
    25    3. Such loans shall only be used by the business  entity  for  payroll
    26  purposes.
    27    4.  The  amount  of such loans shall be determined by the commissioner
    28  but shall not exceed the amount made  available  therefor  by  appropri-
    29  ation.
    30    5.  The  commissioner  shall  promulgate  rules  and  regulations  for
    31  purposes of carrying out the provisions of this article.
    32    § 2. This act shall take effect immediately.