New York state community service loan board created to fund state businesses adversely affected by state agency actions.

The bill creates the New York state community service loan board to provide short-term loans to eligible not-for-profit agencies and local government entities. The board is tasked with ensuring these organizations can continue operations, pay employee salaries, and meet financial obligations. The board consists of seven members appointed by various state officials, with the secretary of state serving as the chairperson. The board has the power to make loans, enter into contracts, and invest funds. The bill appropriates $100,000 for these purposes.

New York state community service loan board created to fund state businesses adversely affected by state agency actions.

The bill creates the New York state community service loan board to provide short-term loans to eligible not-for-profit agencies and local government entities. The board is tasked with ensuring these organizations can continue operations, pay employee salaries, and meet financial obligations. The board consists of seven members appointed by various state officials, with the secretary of state serving as the chairperson. The board has the power to make loans, enter into contracts, and invest funds. The bill appropriates $100,000 for these purposes.