New York S 1370: Relates to a five year elimination of the local share for medicaid

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S01370 Summary:

BILL NOS01370A

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SAME ASSAME AS A04255-A

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SPONSORSERRANO

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COSPNSR

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MLTSPNSR

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Add §16-bb, UDC Act

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Establishes an economic development grant program for the Second Avenue Subway construction project area.

Go to top S01370 Actions:

BILL NOS01370A

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01/09/2025REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

01/07/2026REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

05/21/2026AMEND (T) AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

05/21/2026PRINT NUMBER 1370A

Go to topS01370 Committee&nbspVotes:

Go to topS01370 Floor&nbspVotes:

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

Go to topS01370 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1370--A

 2025-2026 Regular Sessions

 IN SENATE

 January 9, 2025
 ___________

 Introduced by Sen. SERRANO -- read twice and ordered printed, and when
 printed to be committed to the Committee on Corporations, Authorities
 and Commissions -- recommitted to the Committee on Corporations,
 Authorities and Commissions in accordance with Senate Rule 6, sec. 8
 -- committee discharged, bill amended, ordered reprinted as amended
 and recommitted to said committee

 AN ACT to amend the New York state urban development corporation act, in
 relation to establishing a Second Avenue Subway construction economic
 development grant program

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

 1 Section 1. Section 1 of chapter 174 of the laws of 1968, constituting
 2 the New York state urban development corporation act, is amended by
 3 adding a new section 16-bb to read as follows:
 4 § 16-bb. Second Avenue Subway construction economic development grant
 5 program. (1) There is hereby created a Second Avenue Subway construction
 6 economic development grant program for the purpose of providing finan-
 7 cial and technical assistance to businesses located within the Second
 8 Avenue Subway construction business zone area during periods of
 9 construction.
 10 (2) For the purposes of this section the following words or terms
 11 shall mean as follows:
 12 (a) "Small business" shall have the same meaning as defined in section
 13 131 of the economic development law.
 14 (b) "Qualified business" shall mean a small business operating and
 15 employing at least three full-time equivalents at a physical location
 16 within a one hundred fifty foot radius of the business zone area during
 17 a period of authorized construction, and the business has a demonstrated
 18 loss.
 19 (c) "Business zone area" shall mean:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00792-02-6

 S. 1370--A 2

 1 (i) an area in which the chair of the corporation determines that
 2 construction on the Second Avenue Subway project has occurred that has
 3 been certified by the commissioner for the Metropolitan Transportation
 4 Authority; or
 5 (ii) the following areas:
 6 (A) 125th Street from 5th Avenue to Broadway Street;
 7 (B) 2nd Avenue from 129th Street to 91st Street;
 8 (C) 2nd Avenue from 87th Street to 83rd Street;
 9 (D) 2nd Avenue from 73rd Street to 69th Street;
 10 (E) 2nd Avenue from 65th Street to 58th Street;
 11 (F) 2nd Avenue from 45th Street to 41st Street;
 12 (G) 2nd Avenue from 36th Street to 32nd Street;
 13 (H) 2nd Avenue from 26th Street to 23rd Street;
 14 (I) 2nd Avenue from 15th Street to 11th Street;
 15 (J) 2nd Avenue from 6th Street to 4th Street;
 16 (K) 2nd Avenue from 4th Street to Houston Street;
 17 (L) Chrystie Street from Houston Street to Canal Street;
 18 (M) Bowery from Pell Street to Worth Street;
 19 (N) Worth Street from Mott Street to St. James Place;
 20 (O) Water Street from Dover Street to John Street;
 21 (P) Water Street from Wall Street to Coenties Slip.
 22 (d) "Period of authorized construction" shall mean those dates for
 23 which the chair of the corporation determines that construction on the
 24 Second Avenue Subway project has occurred for the specific portion of
 25 the business zone area.
 26 (e) "Demonstrated loss" means a ten percent decline in taxable income
 27 in the year in which the grant is applied for compared to the business'
 28 base