New York S03901 proposes the creation of alternative finance investment bonds to attract capital from investors unable to use conventional debt.
New York S03901 aims to create alternative finance investment bonds, which are certificates representing undivided shares of ownership in tangible assets or projects. This bill seeks to attract capital from investors who cannot use conventional debt instruments due to personal, moral, or religious reasons. The chair of the New York state urban development corporation is directed to report on the potential market for these bonds and how they can be used for economic development.
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