File #: Int 2451-2021    Version: * Name: Assisting small businesses seeking COVID-19 pandemic related financial aid.
Type: Introduction Status: Filed (End of Session)
Committee: Committee on Small Business
On agenda: 11/10/2021
Enactment date: Law number:
Title: A Local Law to amend the administrative code of the city of New York, in relation to assisting small businesses seeking COVID-19 pandemic related financial aid
Sponsors: Mark Gjonaj , Farah N. Louis, Kalman Yeger
Council Member Sponsors: 3
Summary: This bill would require the Department of Small Business Services (SBS) to provide, at no cost to certain covered small businesses, financial counseling and assistance for the purpose of assisting such businesses in navigating any applicable processes for seeking COVID-19 pandemic related grants, loans or other financial assistance from federal, state or local government entities.
Attachments: 1. Summary of Int. No. 2451, 2. Int. No. 2451, 3. November 10, 2021 - Stated Meeting Agenda with Links to Files, 4. Hearing Transcript - Stated Meeting 11-10-21

Int. No. 2451

 

By Council Members Gjonaj, Louis and Yeger

 

A Local Law to amend the administrative code of the city of New York, in relation to assisting small businesses seeking COVID-19 pandemic related financial aid

 

Be it enacted by the Council as follows:

 

Section 1. Chapter 10 of title 22 of the administrative code of the city of New York is amended by adding a new section 22-1007 to read as follows:

§ 22-1007 Small businesses eligible for COVID-19 financial assistance. a. Definitions. For the purposes of this section, the following term has the following meaning:

Covered small business. The term “covered small business” means a business that is:

(i) Small, in accordance with the size standards set forth in section 121.201 of title 13 of the code of federal regulations;

(ii) Not a franchisee, as such term is defined in section 681 of the general business law; and

(iii) Owned and operated by one or more persons, all of whom are income-eligible individuals.

b. Provision of financial counseling services to covered small businesses. Subject to appropriation, the commissioner shall provide, at no cost to a covered small business, financial counseling and assistance for the purpose of assisting such covered small business in navigating any applicable processes for seeking COVID-19 pandemic related grants, loans or other financial assistance from federal, state or local government entities.

c. Liaison. The department shall serve as a liaison between covered small businesses and any applicable federal, state or local government entity from which such businesses have requested COVID-19 pandemic related grants, loans or other financial assistance. Such liaison duties shall include, at a minimum, informing such businesses on a recurring basis of the status of their applications or requests for any such grants, loans or other financial assistance.

§ 2. This local law takes effect immediately.

 

 

 

 

 

CP

LS #17125

10/20/21 4:22 PM