Establishes the New York small business relief fund using fines from the state liquor authority to grant aid to small businesses affected by COVID-19.

The bill creates the New York small business relief fund, which will be composed of fines and penalties collected by the state liquor authority. These funds will be used to provide grants to small businesses that have experienced economic hardship due to the COVID-19 pandemic. A small business is defined as one employing 100 or fewer employees, and economic hardship is defined as a revenue loss greater than 40% between April 2020 and December 2020 compared to the same period in the previous year. The act takes effect immediately.

Establishes the New York small business relief fund using fines from the state liquor authority to grant aid to small businesses affected by COVID-19.

The bill creates the New York small business relief fund, which will be composed of fines and penalties collected by the state liquor authority. These funds will be used to provide grants to small businesses that have experienced economic hardship due to the COVID-19 pandemic. A small business is defined as one employing 100 or fewer employees, and economic hardship is defined as a revenue loss greater than 40% between April 2020 and December 2020 compared to the same period in the previous year. The act takes effect immediately.