Expands the powers of the New York State Industrial Development Agency to include loans, grants, and seed/early-stage equity funding.
This bill amends the general municipal law to expand the powers of the New York State Industrial Development Agency. It allows the agency to provide loans, grants, and seed and early-stage equity funding to private or public corporations or legal entities. The funds must be used in furtherance of the agency's corporate purposes. The act takes effect immediately.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.