New York S 5973: Creates the New York state community service loan board; appropriation

Bill Text

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S05973 Summary:

BILL NOS05973 

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SAME ASNo Same As

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SPONSORPARKER

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COSPNSR

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MLTSPNSR

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Add Art 26-C §§751 - 757, Exec L

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Creates the New York state community service loan board to fund state businesses adversely affected by state agency actions; provides for the organization, powers and duties thereof; provides for bridge loans to certain community organizations; appropriates $100,000 therefor.

Go to top S05973 Actions:

BILL NOS05973 

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03/04/2025REFERRED TO FINANCE

01/07/2026REFERRED TO FINANCE

Go to topS05973 Committee&nbspVotes:

Go to topS05973 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS05973 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5973

 2025-2026 Regular Sessions

 IN SENATE

 March 4, 2025
 ___________

 Introduced by Sen. PARKER -- read twice and ordered printed, and when
 printed to be committed to the Committee on Finance

 AN ACT to amend the executive law, in relation to creating the New York
 state community service loan board and making an appropriation there-
 for

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The executive law is amended by adding a new article 26-C
 2 to read as follows:
 3 ARTICLE 26-C
 4 NEW YORK STATE COMMUNITY SERVICE LOAN BOARD
 5 Section 751. Definitions.
 6 752. New York state community service loan board.
 7 753. Purposes of the board.
 8 754. General powers of the board.
 9 755. Special powers of the board.
 10 756. Cooperation of other state agencies.
 11 757. Determination of eligibility for payment of interest on
 12 money owed to eligible organizations.
 13 § 751. Definitions. As used in this article the following terms shall
 14 have the following meanings:
 15 1. "Board" means the New York state community service loan board
 16 created by this article.
 17 2. "Eligible organization" means any not-for-profit agency or local
 18 government entity previously under contract and in the process of renew-
 19 ing, establishing or performing a subsequent contract to perform
 20 services for a state agency. Said agency or local government agency may
 21 not have an annual operating budget which is in excess of one million
 22 five hundred thousand dollars.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10544-01-5

 S. 5973 2

 1 3. "Short term loan" means a no-interest loan made by the board to an
 2 eligible organization pursuant to any terms or conditions which may be
 3 imposed by the board.
 4 § 752. New York state community service loan board. 1. The New York
 5 state community service loan board is hereby created to have and exer-
 6 cise the powers, duties and prerogatives provided by the provisions of
 7 this article. The board shall consist of seven members to be appointed
 8 as follows: one member shall be appointed by the governor and one member
 9 shall be appointed by the state comptroller, one member shall be
 10 appointed by the majority leader of the senate, one member shall be
 11 appointed by the minority leader of the senate, one member shall be
 12 appointed by the speaker of the assembly and one member shall be
 13 appointed by the minority leader of the assembly. The secretary of state
 14 shall serve as a member and shall be the chairperson of the board. The
 15 secretary of state shall appoint a designee to act in the place of the
 16 secretary in such secretary's absence. Such designee shall have all the
 17 powers given to the secretary pursuant to this article. The board shall
 18 be created and administered within the New York state department of
 19 state.
 20 2. The members of the board shall possess sufficient expertise in the
 21 areas of housing, social services, mental health and fiscal management
 22 of not-for-profit agencies. The members of the board shall serve without
 23 salary but shall be entitled to reasonable reimbursement for actual
 24 costs incurred in the performance of their official duties pursuant to
 25 this section, provided however that such members are not, at the time
 26 such expenses are incurred, public employees or public officers other-
 27 wise entitled to such reimb