Bill Text: NY S07003 | 2021-2022 | General Assembly | Introduced

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Bill Title: Relates to the excelsior linked deposit program.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO FINANCE [S07003 Detail]

Download: New_York-2021-S07003-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7003

                               2021-2022 Regular Sessions

                    IN SENATE

                                      May 21, 2021
                                       ___________

        Introduced  by  Sen. SANDERS -- (at request of the Empire State Develop-
          ment) -- read twice and  ordered  printed,  and  when  printed  to  be
          committed to the Committee on Finance

        AN  ACT  to  amend  the  state finance law, in relation to the excelsior
          linked deposit program

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

     1    Section  1.  Subparagraph  6  of  paragraph  (g)  of subdivision 11 of
     2  section 213 of the state finance law, as added by section 1 of  part  HH
     3  of chapter 59 of the laws of 2013, is amended and a new paragraph (h) is
     4  added to read as follows:
     5    (6) small scale systems integration and packaging[.]; or
     6    (h) a community development financial institution.
     7    §  2.  Paragraph  (e)  of  subdivision  12 of section 213 of the state
     8  finance law, as added by chapter 705 of the laws of 1993, is amended and
     9  a new paragraph (f) is added to read as follows:
    10    (e) for certified minority-and  women-owned  businesses,  projects  to
    11  provide  financing necessary to carry out a procurement contract with an
    12  agency or authority or other entity of  the  state  or  federal  govern-
    13  ment[.]; or
    14    (f)  projects  in  which  community development financial institutions
    15  make loans to manufacturing, agricultural and service firms.
    16    § 3. Section 213 of the state finance law is amended by adding  a  new
    17  subdivision 24 to read as follows:
    18    24.  "Community  development financial institution" means an organiza-
    19  tion as defined in 12 U.S.C. 4702(5)(a).
    20    § 4. This act shall take effect immediately.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09545-01-1