Bill Text: NY S08884 | 2019-2020 | General Assembly | Introduced
Bill Title: Creates the federal contract workers assistance program to permit the state to provide loans to certain small businesses affected by the federal government shutdown.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-08-07 - REFERRED TO RULES [S08884 Detail]
Download: New_York-2019-S08884-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8884 IN SENATE August 7, 2020 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the economic development law, in relation to creating the federal contract workers assistance program The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The economic development law is amended by adding a new 2 article 23 to read as follows: 3 ARTICLE 23 4 FEDERAL CONTRACT WORKERS 5 ASSISTANCE PROGRAM 6 Section 450. Eligibility criteria. 7 451. Application and approval process. 8 452. Federal contract worker assistance program. 9 § 450. Eligibility criteria. 1. In order to participate in the federal 10 contract workers assistance program, a business entity must satisfy the 11 following criteria: 12 (a) The business entity must be a small business; 13 (b) The business entity must demonstrate that it currently has a 14 contract with the federal government; and 15 (c) The business entity must demonstrate that their business has been 16 negatively affected financially due to a federal government shutdown. 17 2. For purposes of this article the term "small business" shall have 18 the same meaning as section one hundred thirty-one of this chapter. 19 § 451. Application and approval process. 1. A business entity must 20 submit a completed application in such form and with such information as 21 prescribed by the commissioner. 22 2. As part of such application, each business entity must: 23 (a) provide such documentation as the commissioner may require in 24 order for the commissioner to determine that the business entity is 25 eligible for the program; 26 (b) agree to allow the department of taxation and finance to share its 27 tax information with the department. However, any information shared as EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD08951-02-9S. 8884 2 1 a result of this agreement shall not be available for disclosure or 2 inspection under the state freedom of information law; 3 (c) agree to allow the department of labor to share its tax and 4 employer information with the department. However, any information 5 shared as a result of this agreement shall not be available for disclo- 6 sure or inspection under the state freedom of information law; 7 (d) allow the department and its agents access to any and all books 8 and records the department may require to monitor compliance; and 9 (e) certify, under penalty of perjury, that it is in substantial 10 compliance with all environmental, worker protection, and local, state, 11 and federal tax laws. 12 § 452. Federal contract worker assistance program. 1. The state may 13 provide loans to be administered by the department to assist business 14 entities which meet the criteria of section four hundred fifty-one of 15 this article and whose applications have been approved pursuant to 16 section four hundred fifty-one of this article. 17 2. All loans shall be repaid by the business entity within twelve 18 calendar months from when such funds are disbursed to the business enti- 19 ty. 20 3. Such loans shall only be used by the business entity for payroll 21 purposes. 22 4. The amount of such loans shall be determined by the commissioner 23 but shall not exceed the amount made available therefor by appropri- 24 ation. 25 5. The commissioner shall promulgate rules and regulations for 26 purposes of carrying out the provisions of this article. 27 § 2. This act shall take effect immediately.