Enacts the HIRE NY act to provide zero interest loans for hiring by micro-businesses with fewer than five employees.

The HIRE NY act establishes a zero interest loan program through the New York State Urban Development Corporation to support micro-businesses with fewer than five employees in hiring new full-time local employees. The loans cover up to 20% of the new hire's annual salary for three years, with no interest and deferred payments for three years. The program aims to stimulate job creation and economic growth by providing necessary capital to micro-businesses. The corporation will evaluate loan applications based on the likelihood of success, demonstrated need, and other criteria.

Enacts the HIRE NY act to provide zero interest loans for hiring by micro-businesses with fewer than five employees.

The HIRE NY act establishes a zero interest loan program through the New York State Urban Development Corporation to support micro-businesses with fewer than five employees in hiring new full-time local employees. The loans cover up to 20% of the new hire's annual salary for three years, with no interest and deferred payments for three years. The program aims to stimulate job creation and economic growth by providing necessary capital to micro-businesses. The corporation will evaluate loan applications based on the likelihood of success, demonstrated need, and other criteria.