New York A 4724: Requires siting, erection, purchase, repair, enlargement and remodeling of healthy and high performance school buildings

Bill Text

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A04724 Summary:

BILL NOA04724 

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SAME ASNo Same As

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SPONSORJones

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COSPNSRMcDonald

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MLTSPNSR

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Amd §858, add §859-c, Gen Muni L

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Relates to loans and grants by industrial development agencies; requires uniform criteria for evaluation and selection of an eligible entity for a loan; defines terms; outlines such criteria.

Go to top A04724 Actions:

BILL NOA04724 

&nbsp

02/05/2025referred to local governments

09/08/2025enacting clause stricken

Go to topA04724 Committee&nbspVotes:

Go to topA04724 Floor&nbspVotes:

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

Go to topA04724 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4724

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 5, 2025
 ___________

 Introduced by M. of A. JONES -- read once and referred to the Committee
 on Local Governments

 AN ACT to amend the general municipal law, in relation to the powers of
 industrial development agencies and certain loans and grants to eligi-
 ble entities

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

 1 Section 1. Subdivision 17 of section 858 of the general municipal law,
 2 as renumbered by chapter 356 of the laws of 1993, is renumbered subdivi-
 3 sion 19 and two new subdivisions 17 and 18 are added to read as follows:
 4 (17) To provide loans in accordance with section eight hundred fifty-
 5 nine-c of this article, to any eligible entity as defined in paragraph a
 6 of subdivision one of section eight hundred fifty-nine-c of this title,
 7 provided such loan is memorialized in an appropriate loan agreement and
 8 further provided that the loan proceeds are used in furtherance of the
 9 agency's corporate purposes;
 10 (18) To provide grants to any eligible entity as defined in paragraph
 11 a of subdivision one of section eight hundred fifty-nine-c of this
 12 title, provided said grant is memorialized in an appropriate grant
 13 agreement stipulating the services to be provided in furtherance of the
 14 agency's corporate purposes, to be provided in a manner consistent with
 15 uniform criteria, as defined in subdivision two of section eight hundred
 16 fifty-nine-c of this title, said uniform criteria to be established for
 17 the evaluation and selection of eligible entities;
 18 § 2. The general municipal law is amended by adding a new section
 19 859-c to read as follows:
 20 § 859-c. Uniform criteria for evaluation and selection of eligible
 21 entities for loans. 1. For the purposes of this section, the following
 22 terms shall have the following meanings:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08490-01-5

 A. 4724 2

 1 (a) "eligible entity" shall mean a small business or not-for-profit
 2 with not more than fifty employees that is physically located in the
 3 jurisdiction of the applicable agency.
 4 (b) "small business" means a business with not more than fifty employ-
 5 ees.
 6 2. (a) An agency shall develop, and adopt by resolution, uniform
 7 criteria for the evaluation and selection of an eligible entity for a
 8 loan through the funding program, such criteria may include, but is not
 9 limited to, whether the eligible entity:
 10 (i) is a financially viable entity;
 11 (ii) conducts business in the area served by the agency;
 12 (iii) is creditworthy;
 13 (iv) has a proposed plan to use the funds received through this
 14 program; and
 15 (v) will undertake efforts to retain jobs.
 16 (b) Any agencies that serve within the same municipalities shall coor-
 17 dinate the distribution of funds to a single entity.
 18 (c) No eligible entity may receive a grant or loan from more than one
 19 agency per project.
 20 (d) An outstanding loan must be paid back in full prior to an agency
 21 issuing an additional loan agreement to the same eligible entity.
 22 2. Prior to administering a loan program, an agency shall develop, and
 23 adopt by resolution, the terms and conditions of such loans, provided
 24 that the amount of any funding provided pursuant to this section shall
 25 not exceed twenty-five thousand dollars, and further provided that the
 26 total amount o