Establishes a temporary state fund to provide legal counsel for small businesses in certain bankruptcy proceedings.

The bill establishes a temporary state assistance fund to provide legal counsel for small businesses affected by COVID-19 in bankruptcy proceedings under the federal Small Business Reorganization Act. It defines covered businesses, legal services, and the role of the New York Office of Court Administration in administering the fund. Legal services will terminate upon bankruptcy proceeding termination, dismissal, or at the recommendation of the United States trustee or bankruptcy judge. The fund will be operational by October 1, 2025.

Establishes a temporary state fund to provide legal counsel for small businesses in certain bankruptcy proceedings.

The bill establishes a temporary state assistance fund to provide legal counsel for small businesses affected by COVID-19 in bankruptcy proceedings under the federal Small Business Reorganization Act. It defines covered businesses, legal services, and the role of the New York Office of Court Administration in administering the fund. Legal services will terminate upon bankruptcy proceeding termination, dismissal, or at the recommendation of the United States trustee or bankruptcy judge. The fund will be operational by October 1, 2025.