New York S 9085: Requires uniform criteria for evaluation and selection of grants and loans by the New York state industrial development agency

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S09085 Summary:

BILL NOS09085 

&nbsp

SAME ASSAME AS A09292-A

&nbsp

SPONSORMARTINEZ

&nbsp

COSPNSRHARCKHAM

&nbsp

MLTSPNSR

&nbsp

Amd §858, add §859-c, Gen Muni L

&nbsp

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

Go to top S09085 Actions:

BILL NOS09085 

&nbsp

01/30/2026REFERRED TO LOCAL GOVERNMENT

Go to topS09085 Committee&nbspVotes:

Go to topS09085 Floor&nbspVotes:

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

Go to topS09085 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9085

 IN SENATE

 January 30, 2026
 ___________

 Introduced by Sen. MARTINEZ -- read twice and ordered printed, and when
 printed to be committed to the Committee on Local Government

 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:
 23 (a) "eligible entity" shall mean a small business or not-for-profit
 24 with not more than fifty full-time or equivalent employees that is phys-
 25 ically located in the jurisdiction of the applicable agency.
 26 (b) "small business" means a business with not more than fifty full-
 27 time or equivalent employees.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08490-03-6

 S. 9085 2

 1 (c) "equivalent full-time employee" shall mean any combination of two
 2 or more part-time jobs that, when combined together, constitute the
 3 equivalent of a job of at least 35 hours per week.
 4 2. (a) An agency shall develop, and adopt by resolution, uniform
 5 criteria for the evaluation and selection of an eligible entity for a
 6 grant or loan through the funding program, such criteria may include,
 7 but is not limited to, whether the eligible entity:
 8 (i) is a financially viable entity;
 9 (ii) conducts business in the area served by the agency;
 10 (iii) is creditworthy; and
 11 (iv) has a proposed plan to use the funds received through this
 12 program for qualified projects as determined by the agency, for purposes
 13 including but not limited to capital improvement and business expansion.
 14 (b) Any industrial development agencies that serve within the same
 15 municipalities shall coordinate the distribution of funds to a single
 16 entity.
 17 (c) No eligible entity may receive a grant or loan from more than one
 18 agency per project.
 19 (d) An outstanding loan must be paid back in full prior to an agency
 20 issuing an additional loan agreement to the same eligible en