Bill > S05125

This bill amends the New York State Urban Development Corporation Act to create a new assistance program specifically designed to help small dry cleaning and nail salon businesses make necessary capital improvements to comply with safety and environmental regulations. The bill establishes a financial assistance program that will provide grants and flexible financing options, such as loan loss reserve programs, working capital loans, and loan guarantees, to help these businesses upgrade their equipment and facilities. For dry cleaners, the assistance will support the purchase and installation of non-perchlorethylene machines and sprinkler systems to meet state and local codes. For nail salons, the funding will help upgrade mechanical ventilation systems to comply with federal, state, and local indoor air quality regulations. The New York State Urban Development Corporation will develop the program in consultation with environmental and health agencies, and will use the standard definition of "small businesses" from the economic development law. The bill will take effect 90 days after becoming law, with provisions allowing for immediate preparation of necessary regulations.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S5125