Bill Text: NY A10238 | 2015-2016 | General Assembly | Introduced

New York Assembly Bill 10238 (Prior Session Legislation)

Introduced

Bill Title: Relates to businesses impacted or dislocated by state and local infrastructure projects; authorizes loans to certain businesses impacted or dislocated by state and local infrastructure projects.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2016-05-24 - reported referred to ways and means [A10238 Detail]

Download: New_York-2015-A10238-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          10238
                   IN ASSEMBLY
                                      May 17, 2016
                                       ___________
        Introduced  by  M. of A. SCHIMMINGER, McKEVITT -- read once and referred
          to the Committee on Economic Development
        AN ACT to amend the urban development  corporation  act  and  the  state
          finance law, in relation to businesses impacted or dislocated by state
          and local infrastructure projects
          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)  loans,  loan  guarantees  and  grants  including interest subsidy
     6  grants to businesses impacted or dislocated by state and  local  infras-
     7  tructure  projects including, but not limited to, highway, bridge, water
     8  treatment and sewer projects.
     9    § 2. Subdivision 11 of section 213 of the state finance law is amended
    10  by adding a new paragraph (h) to read as follows:
    11    (h) any business that is significantly impacted or dislocated by state
    12  and local infrastructure projects including, but not limited  to,  high-
    13  way,  bridge, water treatment and sewer projects, is independently owned
    14  and operated, employs one hundred or fewer persons on a full-time  basis
    15  within  the  state,  and  by  seeking financing through the program or a
    16  project, will result in the retention or creation of  permanent  private
    17  sector jobs within the state.
    18    §  3.  This act shall take effect immediately; provided, however, that
    19  the amendments to section 16-m of the urban development corporation  act
    20  made  by section one of this act shall not affect the expiration of such
    21  section and shall be deemed to expire therewith.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15078-03-6