NY A10266 | 2019-2020 | General Assembly

Status

Spectrum: Partisan Bill (Republican 42-0)
Status: Introduced on April 8 2020 - 25% progression
Action: 2020-04-08 - referred to small business
Pending: Assembly Small Business Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Enacts the "small business emergency recovery act of 2020"; requires the executive to direct all unallocated settlement funds that are reserved in the "economic uncertainties" fund and any further settlement money that may be received by the state to small business relief purposes consistent with the intent of the "small business emergency recovery act of 2020" (Part A); establishes the small business and not-for-profit recovery loan program; defines terms; loan eligibility; eligible uses of funding; loan forgiveness (Part B); provides that in the years two thousand twenty through two thousand twenty-four, the empire state film production credit shall first be used to provide assistance to small businesses negatively impacted during the emergency declaration relating to the COVID-19 outbreak (Part C); authorizes the executive to repurpose all monies of the New York state urban development corporation, the environmental facilities corporation, the dormitory authority of the state of New York, the New York state energy research and development authority and all other state resources as identified and needed by the executive to fully fund programs created by the small business emergency recovery act of 2020 (Part D); grants an automatic extension for small businesses affected by an emergency declaration (Part E); provides a regulatory amnesty period for small businesses (Part F); and relates to the effectiveness of provisions of law relating to New York state bag waste reduction act (Part G).

Tracking Information

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Title

Enacts the "small business emergency recovery act of 2020"; requires the executive to direct all unallocated settlement funds that are reserved in the "economic uncertainties" fund and any further settlement money that may be received by the state to small business relief purposes consistent with the intent of the "small business emergency recovery act of 2020" (Part A); establishes the small business and not-for-profit recovery loan program; defines terms; loan eligibility; eligible uses of funding; loan forgiveness (Part B); provides that in the years two thousand twenty through two thousand twenty-four, the empire state film production credit shall first be used to provide assistance to small businesses negatively impacted during the emergency declaration relating to the COVID-19 outbreak (Part C); authorizes the executive to repurpose all monies of the New York state urban development corporation, the environmental facilities corporation, the dormitory authority of the state of New York, the New York state energy research and development authority and all other state resources as identified and needed by the executive to fully fund programs created by the small business emergency recovery act of 2020 (Part D); grants an automatic extension for small businesses affected by an emergency declaration (Part E); provides a regulatory amnesty period for small businesses (Part F); and relates to the effectiveness of provisions of law relating to New York state bag waste reduction act (Part G).

Sponsors


History

DateChamberAction
2020-04-08Assemblyreferred to small business

New York State Sources


Bill Comments

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