Bill Text: NY S04324 | 2021-2022 | General Assembly | Introduced

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Bill Title: Establishes the New York small business relief fund consisting of monetary penalties imposed by the state liquor authority to provide grants to small businesses which have suffered economic hardship as a result of the COVID-19 pandemic.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO FINANCE [S04324 Detail]

Download: New_York-2021-S04324-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          4324

                               2021-2022 Regular Sessions

                    IN SENATE

                                    February 3, 2021
                                       ___________

        Introduced  by Sen. MARTUCCI -- read twice and ordered printed, and when
          printed to be committed to the Committee on Finance

        AN ACT to amend the state finance law, in relation to  establishing  the
          New York small business relief fund

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

     1    Section 1. The state finance law is amended by adding  a  new  section
     2  99-ii to read as follows:
     3    §  99-ii.  New  York  small  business  relief fund. 1. There is hereby
     4  established in the joint custody of the  commissioner  of  taxation  and
     5  finance  and  the  comptroller a fund to be known as the "New York state
     6  small business relief fund".
     7    2. The fund shall consist of all fines or penalties collected  by  the
     8  state  liquor  authority  pursuant to section seventeen of the alcoholic
     9  beverage control law.
    10    3. Monies of the fund, following  appropriation  by  the  legislature,
    11  shall  be  made  available  for  grants  to  small businesses which have
    12  suffered economic hardship as a result of the COVID-19 pandemic.
    13    4. For the purposes of this section (a) "small business" shall mean  a
    14  business  employing  one  hundred  or fewer employees; and (b) "economic
    15  hardship" shall mean that a business  has  experienced  a  revenue  loss
    16  greater  than forty percent between April two thousand twenty and Decem-
    17  ber two thousand twenty compared to that same time period in the  previ-
    18  ous year.
    19    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08929-01-1