Bill Text: NY A10189 | 2011-2012 | General Assembly | Introduced

New York Assembly Bill 10189 (Prior Session Legislation)

Introduced

Bill Title: Relates to program loans to small businesses; authorizes such loans to be used for short term financing for the purpose of performing contracts to provide for construction or professional services for state procurement purposes.

Spectrum: Partisan Bill (Democrat 17-0)

Status: (Introduced - Dead) 2012-05-22 - reported referred to ways and means [A10189 Detail]

Download: New_York-2011-A10189-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         10189
                                 I N  A S S E M B L Y
                                     May 10, 2012
                                      ___________
       Introduced  by  M.  of  A.  SCARBOROUGH -- read once and referred to the
         Committee on Small Business
       AN ACT to amend the New York state urban development corporation act, in
         relation to program loans to small businesses
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. Paragraphs (c) and (d) of subdivision 3 of section 16-t of
    2  section 1 of chapter 174 of the laws of 1968, constituting the New  York
    3  state urban development corporation act, as amended by section 1 of part
    4  N of chapter 59 of the laws of 2010, are amended and a new paragraph (e)
    5  is added to read as follows:
    6    (c)  the  acquisition of machinery and equipment, property or improve-
    7  ment; [or] (d) the refinancing of debt obligations; OR  (E)  SHORT  TERM
    8  FINANCING  FOR  THE  PURPOSE  OF  PERFORMING  CONTRACTS  TO  PROVIDE FOR
    9  CONSTRUCTION OR PROFESSIONAL SERVICES FOR STATE PROCUREMENT PURPOSES.
   10    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15706-01-2