Bill Text: NY S05923 | 2017-2018 | General Assembly | Amended

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Bill Title: Relates to assistance for certain small businesses including dry cleaners and those that practice nail specialty for necessary code related improvements.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2017-06-14 - PRINT NUMBER 5923B [S05923 Detail]

Download: New_York-2017-S05923-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         5923--B
                               2017-2018 Regular Sessions
                    IN SENATE
                                       May 5, 2017
                                       ___________
        Introduced by Sens. PERALTA, STAVISKY -- read twice and ordered printed,
          and  when  printed  to  be committed to the Committee on Corporations,
          Authorities and Commissions --  committee  discharged,  bill  amended,
          ordered  reprinted  as  amended  and  recommitted to said committee --
          committee discharged, bill amended, ordered reprinted as  amended  and
          recommitted to said committee
        AN ACT to amend the New York state urban development corporation act, in
          relation to assistance for certain small businesses
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subdivision 1 of section 16-m of section 1 of  chapter  174
     2  of  the  laws of 1968, constituting the New York state urban development
     3  corporation act is amended by adding a new  paragraph  (o)  to  read  as
     4  follows:
     5    (o)  Assistance to small businesses engaged in dry cleaning or appear-
     6  ance enhancement businesses which practice nail specialty to make  capi-
     7  tal improvements through grants and flexible financing programs, includ-
     8  ing,  but not limited to, loan loss reserve and revolving loan programs,
     9  working capital loans, working capital loan guarantees, or other  flexi-
    10  ble  financing programs that leverage traditional financing. Such finan-
    11  cial assistance shall be used to assist:   (i) dry  cleaning  businesses
    12  for  the  purchase and installation of non-perchlorethylene machines and
    13  sprinkler systems to comply with state and local codes, rules and  regu-
    14  lations;  and (ii) appearance enhancement businesses which practice nail
    15  specialty to make capital improvements and upgrades to mechanical venti-
    16  lation systems that are necessary to  comply  with  federal,  state  and
    17  local  indoor air quality codes, rules and regulations. The corporation,
    18  in consultation  with  the  environmental  facilities  corporation,  the
    19  department  of  environmental conservation and the department of health,
    20  shall promulgate all necessary rules and regulations to  facilitate  and
    21  administer  such assistance program. For the purposes of this paragraph,
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11189-05-7
        S. 5923--B                          2
     1  "small businesses" shall have the same meaning as defined in section one
     2  hundred thirty-one of the economic development law.
     3    § 2. This act shall take effect on the one hundred eightieth day after
     4  it shall have become a law; provided, however, that effective immediate-
     5  ly,  the  addition,  amendment,  and/or repeal of any rule or regulation
     6  necessary for the implementation of this act on its effective  date  are
     7  authorized to be made and completed on or before such effective date.