Bill > S01704

This bill creates the federal contract workers assistance program in New York, which allows the state to provide loans to certain small businesses that have been negatively affected financially due to a federal government shutdown. To be eligible, a business must be a small business with a current federal government contract. The business must apply to the program, provide necessary documentation, and agree to allow the state to access relevant tax and employment information. The loans are limited to 12 months in duration and can only be used for payroll purposes. The program is administered by the state's Department of Economic Development.