New York A 9292: Requires uniform criteria for evaluation and selection of grants and loans by the New York state industrial development agency

Bill Text

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A09292 Summary:

BILL NOA09292A

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SAME ASSAME AS S09085

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SPONSORSolages

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COSPNSRGriffin

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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 A09292 Actions:

BILL NOA09292A

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12/10/2025referred to local governments

01/07/2026referred to local governments

05/05/2026amend and recommit to local governments

05/05/2026print number 9292a

Go to topA09292 Committee&nbspVotes:

Go to topA09292 Floor&nbspVotes:

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

Go to topA09292 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9292--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 December 10, 2025
 ___________

 Introduced by M. of A. SOLAGES -- read once and referred to the Commit-
 tee on Local Governments -- recommitted to the Committee on Local
 Governments in accordance with Assembly Rule 3, sec. 2 -- committee
 discharged, bill amended, ordered reprinted as amended and recommitted
 to said committee

 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:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08490-02-6

 A. 9292--A 2

 1 § 859-c. Uniform criteria for evaluation and selection of eligible
 2 entities for loans. 1. For the purposes of this section, the following
 3 terms shall have the following meanings:
 4 (a) "eligible entity" shall mean a small business or not-for-profit
 5 with not more than fifty full-time or equivalent employees that is phys-
 6 ically located in the jurisdiction of the applicable agency.
 7 (b) "small business" means a business with not more than fifty full-
 8 time or equivalent employees.
 9 (c) "equivalent full-time employee" shall mean any combination of two
 10 or more part-time jobs that, when combined together, constitute the
 11 equivalent of a job of at least 35 hours per week.
 12 2. (a) An agency shall develop, and adopt by resolution, uniform
 13 criteria for the evaluation and selection of an eligible entity for a
 14 grant or loan through the funding program, such criteria may include,
 15 but is not limited to, whether the eligible entity:
 16 (i) is a financially viable entity;
 17 (ii) conducts business in the area served by the agency;
 18 (iii) is creditworthy; and
 19 (iv) has a proposed plan to use the funds received through this
 20 program for qualified projects as determined by the agency, for purposes
 21 including but not limited to capital improvement and business expansion.
 22 (b) Any industrial development agencies that serve within the same
 23 muni