Bill Text: NY A01764 | 2009-2010 | General Assembly | Introduced
Bill Title: An act to amend the economic development law and the public authorities law, in relation to authorizing the department of economic development and the job development authority to provide pre-exporting assistance to firms seeking to export from New York
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Introduced - Dead) 2010-01-06 - referred to economic development [A01764 Detail]
Download: New_York-2009-A01764-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
1764
2009-2010 Regular Sessions
I N A S S E M B L Y
January 12, 2009
___________
Introduced by M. of A. MORELLE, SCHIMMINGER, GALEF -- Multi-Sponsored by
-- M. of A. MAGEE -- read once and referred to the Committee on
Economic Development, Job Creation, Commerce and Industry
AN ACT to amend the economic development law and the public authorities
law, in relation to authorizing the department of economic development
and the job development authority to provide pre-exporting assistance
to firms seeking to export from New York
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subdivision 47 of section 100 of the economic development
2 law, as renumbered by chapter 427 of the laws of 2008, is renumbered
3 subdivision 48 and a new subdivision 47 is added to read as follows:
4 47. THE COMMISSIONER SHALL ASSIST THE JOB DEVELOPMENT AUTHORITY IN THE
5 IDENTIFICATION OF MANUFACTURERS ELIGIBLE FOR ASSISTANCE THROUGH THE
6 EXPORT TRADE REVOLVING LOAN FUND AND SHALL PROVIDE TECHNICAL ASSISTANCE
7 TO SUCH MANUFACTURERS AS MAY BE REQUIRED BY THEM IN ORDER TO ASSIST THEM
8 TO BE MORE EFFECTIVE IN THE AREA OF INTERNATIONAL SALES WHENEVER POSSI-
9 BLE.
10 S 2. Subdivision 14 of section 1801 of the public authorities law, as
11 amended by chapter 788 of the laws of 1983, is amended to read as
12 follows:
13 14. "Project" shall mean (i) the construction of a new industrial or
14 manufacturing plant, a new research and development building or other
15 new eligible business facility, (ii) the acquisition, rehabilitation or
16 improvement of a former or existing industrial or manufacturing plant,
17 of a former or existing building to be used for research and develop-
18 ment, of a former or existing other eligible business facility, (iii)
19 the construction, acquisition, rehabilitation or improvement of
20 pollution control facilities, (iv) the purchase of machinery and equip-
21 ment, for which financial assistance from the authority is sought, [or]
22 (v) assistance to employees under an employee ownership assistance loan
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04137-01-9
A. 1764 2
1 agreement made pursuant to subtitle six of this title, OR (VI) FINANCIAL
2 ASSISTANCE FOR EXPORT TRADE PURPOSES PURSUANT TO SUBTITLE FIVE-B OF THIS
3 TITLE; provided, however, that any such plant, building, facility or
4 machinery and equipment therefore shall not be primarily used in making
5 retail sales of goods or services to customers who personally visit such
6 facilities to obtain such goods or services, or used primarily as a
7 hotel, apartment house or other place of business which furnishes dwell-
8 ing space or accommodations to either residents or transients.
9 S 3. Title 8 of article 8 of the public authorities law is amended by
10 adding a new subtitle 5-B to read as follows:
11 SUBTITLE V-B
12 EXPORT TRADE REVOLVING LOAN FUND
13 SECTION 1835-AA. STATEMENT OF LEGISLATIVE FINDINGS AND PURPOSE.
14 1835-BB. DEFINITIONS.
15 1835-CC. ADDITIONAL POWERS OF THE AUTHORITY.
16 1835-DD. REPAYMENT OF LOANS.
17 1835-EE. RULES AND REGULATIONS OF THE AUTHORITY.
18 S 1835-AA. STATEMENT OF LEGISLATIVE FINDINGS AND PURPOSE. THE LEGISLA-
19 TURE HEREBY FINDS AND DECLARES THAT SMALL AND MEDIUM-SIZED COMPANIES
20 HAVE SOUGHT TO INCREASE THEIR SALES AND EMPLOYMENT BY ENTERING THE WORLD
21 MARKET IN THAT THEY ARE DESIROUS OF MAKING INTERNATIONAL SALES. HOWEVER,
22 SUCH BUSINESS TRANSACTIONS ARE SUBSTANTIALLY MORE COMPLEX THAN A NORMAL
23 DOMESTIC SALES RELATIONSHIP FAMILIAR TO THE UNITED STATES BUSINESS
24 COMMUNITY. FURTHER, THE INTERNATIONAL SALE REQUIRES A GREAT DEAL OF
25 DOCUMENTATION, KNOWLEDGE OF FOREIGN MARKETS, HIGH RISK RELATIVE TO A
26 DOMESTIC SALE, SPECIAL FREIGHT FORWARDING TRANSACTION, AND MOST IMPOR-
27 TANTLY, SPECIAL FINANCING.
28 THE LEGISLATURE FURTHER FINDS AND DECLARES THAT SMALL AND MEDIUM-SIZED
29 MANUFACTURERS REQUIRE SHORT-TERM FINANCING WHICH IS CURRENTLY NOT AVAIL-
30 ABLE THROUGHOUT THE STATE OF NEW YORK FOR ACTIVITIES THAT MUST BE
31 COMPLETED PRIOR TO THE FOREIGN SALE OF GOODS KNOWN AS PRE-EXPORT ACTIV-
32 ITIES. THEREFORE, TO HELP BUSINESS IN THIS STATE TO BETTER EXPORT ITS
33 PRODUCTS, THE LEGISLATURE DESIRES THAT THE JOB DEVELOPMENT AUTHORITY
34 PROVIDE LOANS TO SMALL AND MEDIUM-SIZED COMPANIES THROUGH APPROPRIATE
35 AND EFFICIENT METHODS SO THAT MORE BUSINESSES IN THE STATE OF NEW YORK
36 MAY ENTER THE INTERNATIONAL SALES MARKETPLACE.
37 S 1835-BB. DEFINITIONS. AS USED IN THIS SUBTITLE:
38 1. "AGREEMENT" MEANS AN EXPORT TRADE LOAN AGREEMENT MADE PURSUANT TO
39 THIS SUBTITLE.
40 2. "AUTHORITY" MEANS THE JOB DEVELOPMENT AUTHORITY CREATED BY SECTION
41 EIGHTEEN HUNDRED TWO OF THIS TITLE.
42 3. "EXPORT TRADING ENTITY" MEANS A PERSON, FIRM, PARTNERSHIP, CORPO-
43 RATION OR OTHER ENTITY, PRINCIPALLY DOING BUSINESS IN THE STATE OF NEW
44 YORK, WITH FEWER THAN ONE HUNDRED EMPLOYEES, ENGAGED IN OR SEEKING TO
45 ENGAGE IN AN ELIGIBLE PROJECT.
46 4. "ELIGIBLE PROJECT" MEANS PRE-EXPORT ACTIVITIES CONDUCTED BY AN
47 EXPORT TRADING ENTITY, ENGAGED IN ACTIVITIES INVOLVING THE EXPORT OF
48 GOODS AND SERVICES, INCLUDING BUT NOT LIMITED TO MARKET SURVEYS,
49 RESEARCH, PRODUCT SOURCING, MARKETING, ADVERTISING, BONDING, INSURING,
50 WAREHOUSING, SHIPPING, STORAGE, DOCUMENTATION, EXPORT MARKET DEVELOP-
51 MENT, EXPERT ADVICE AND TRADE SHOWS.
52 5. "BORROWER" MEANS ANY ENTITY WHICH RECEIVES A LOAN UNDER THIS SUBTI-
53 TLE TO PARTICIPATE IN AN ELIGIBLE PROJECT.
54 6. "PROJECT COST" INCLUDES ALL REASONABLE AND NECESSARY COSTS TO BE
55 INCURRED WHILE COMPLETING AN ELIGIBLE PROJECT, INCLUDING LEGAL, FINAN-
56 CIAL, INSURANCE AND EXPORT TRADING SERVICES.
A. 1764 3
1 S 1835-CC. ADDITIONAL POWERS OF THE AUTHORITY. THE AUTHORITY SHALL
2 HAVE THE POWER AND DUTY TO:
3 1. ASSIST AND COUNSEL EXPORT TRADING ENTITIES IN THEIR DEALINGS WITH
4 FEDERAL, STATE AND LOCAL GOVERNMENTS, INCLUDING BUT NOT LIMITED TO
5 PROVIDING ACCESS TO INFORMATION REGARDING GOVERNMENT REQUIREMENTS
6 AFFECTING EXPORT TRADING ACTIVITIES.
7 2. PRESCRIBE STANDARDS AND CRITERIA FOR THE GRANTING OF APPLICATIONS
8 FOR LOANS TO EXPORT TRADING ENTITIES AND FOR THE MAKING OF LOANS FOR
9 ELIGIBLE PROJECTS. SUCH STANDARDS AND CRITERIA SHALL IMPLEMENT THE
10 LEGISLATIVE FINDINGS AND PURPOSE SET FORTH IN THIS SUBTITLE. IN DEVELOP-
11 ING SUCH STANDARDS AND CRITERIA, THE AUTHORITY SHALL CONSULT WITH THE
12 SUPERINTENDENT OF BANKS, THE SUPERINTENDENT OF INSURANCE AND THE COMMIS-
13 SIONER OF ECONOMIC DEVELOPMENT REGARDING STANDARDS AND CRITERIA FOR THE
14 MAKING OF LOANS FOR AN ELIGIBLE PROJECT; TO PLAN, DEVELOP AND UNDERTAKE
15 A PROGRAM WHEREIN SUCH LOANS FOR ELIGIBLE PROJECTS CAN BE DISBURSED TO
16 THE GENERAL BUSINESS COMMUNITY OF THE STATE OF NEW YORK FOR ELIGIBLE
17 PROJECTS.
18 3. MAKE AND EXECUTE CONTRACTS FOR THE ADMINISTRATION OR SERVICING OF
19 ANY LOAN MADE BY THE AUTHORITY IN FURTHERANCE OF THIS SUBTITLE AND TO
20 PAY THE REASONABLE VALUES OF SUCH SERVICES RENDERED TO THE AUTHORITY
21 PURSUANT TO SUCH CONTRACT.
22 4. ACCESS FUNDS FOR THE PROMOTION OF THIS ACTIVITY AS DEFINED IN THIS
23 SUBTITLE AND TO DO ALL THINGS REASONABLE TO DEVELOP A VIABLE POOL OF
24 FUNDS TO CARRY OUT THE LEGISLATIVE INTENT OF THIS SUBTITLE TO INCLUDE
25 SEEKING OUT AND SECURING MONIES FROM THE SMALL BUSINESS ADMINISTRATION,
26 EXPORT-IMPORT BANK OF THE UNITED STATES, ECONOMIC DEVELOPMENT ADMINIS-
27 TRATION, AGENCY FOR INTERNATIONAL DEVELOPMENT, THE DEPARTMENT OF HOUSING
28 AND URBAN DEVELOPMENT OR OTHER FEDERAL AGENCIES.
29 5. DO ANY AND ALL THINGS NECESSARY OR CONVENIENT TO CARRY OUT THIS
30 CORPORATE PURPOSE AND EXERCISE THE POWERS GIVEN AND GRANTED IN THIS
31 SUBTITLE.
32 6. NOTWITHSTANDING ANY OF THE PROVISIONS OF THIS SUBTITLE, THE BORROW-
33 ER MAY ONLY USE FUNDS MADE AVAILABLE BY THE AUTHORITY THROUGH LOANS FOR
34 ELIGIBLE PROJECTS. SPECIFICALLY, THE AUTHORITY SHALL NOT FINANCE THE
35 SALE OF PRODUCTS OR SERVICES BEING EXPORTED AS PART OF AN EXPORT SALE
36 FROM THE UNITED STATES.
37 S 1835-DD. REPAYMENT OF LOANS. 1. THE ENTIRE AMOUNT LOANED SHALL BE
38 REPAID BY THE BORROWER TO THE AUTHORITY IN A TERM NOT LONGER THAN ONE
39 YEAR.
40 2. INTEREST SHALL ACCRUE ON THE UNPAID BALANCE THROUGHOUT THE LIFETIME
41 OF THE LOAN AT A RATE TO BE DETERMINED BY THE JOB DEVELOPMENT AUTHORITY.
42 S 1835-EE. RULES AND REGULATIONS OF THE AUTHORITY. 1. THE AUTHORITY
43 SHALL MAKE, PROMULGATE AND ENFORCE SUCH REASONABLE RULES AND REGULATIONS
44 RELATING TO ITS DUTIES UNDER THIS SUBTITLE AS IT MAY DEEM APPROPRIATE.
45 2. TO EFFECTUATE THE PURPOSE OF THIS SUBTITLE, THE AUTHORITY MAY
46 REQUEST FROM ANY AUTHORITY, DIVISION, BOARD, BUREAU, COMMISSION OR ANY
47 OTHER AGENCY OF THE STATE OR FROM ANY PUBLIC CORPORATION, AND THE SAME
48 ARE AUTHORIZED TO PROVIDE SUCH SERVICES, ASSISTANCE AND DATA AS WILL
49 ENABLE THE AUTHORITY TO PROPERLY CARRY OUT ITS FUNCTIONS, POWERS AND
50 DUTIES UNDER THIS SUBTITLE.
51 S 4. This act shall take effect on the one hundred twentieth day after
52 it shall have become a law. Effective immediately, the addition, amend-
53 ment and/or repeal of any rule or regulation necessary for the implemen-
54 tation of the foregoing sections of this act on their effective date is
55 authorized to be made on or before such effective date.
