New York A09301 establishes a disaster emergency grant and loan program for small businesses affected by state or local emergencies.

New York A09301 creates a state disaster emergency grant and loan program administered by industrial development agencies. This program provides loans and grants to small businesses with up to 50 employees that have suffered losses due to state or local emergencies. The bill defines "qualified business losses" as damage to business property, inventory losses, and revenue loss due to emergencies. Loans are capped at $25,000 per business, and interest on deferred or unpaid loans is exempt from state taxes.

New York A09301 establishes a disaster emergency grant and loan program for small businesses affected by state or local emergencies.

New York A09301 creates a state disaster emergency grant and loan program administered by industrial development agencies. This program provides loans and grants to small businesses with up to 50 employees that have suffered losses due to state or local emergencies. The bill defines "qualified business losses" as damage to business property, inventory losses, and revenue loss due to emergencies. Loans are capped at $25,000 per business, and interest on deferred or unpaid loans is exempt from state taxes.