NYC Council Introduction 330

intro.nyc/0330-2024 2024-2025 Legislative Session
Equitable distribution of emergency funding by borough.
Status: Committee Committee on Small Business
Sponsored by Francisco P. Moya
Introduced: February 28, 2024

This bill would require the Department of Small Business Services (SBS), before disbursing certain emergency loans or grants, to post on their website the number of businesses by borough that would be eligible for such loans or grants. The bill would then require the City government to disburse emergency loans or grants by borough in proportion to the estimate posted by SBS, or come within five percentage points of that number. The City government could also satisfy the requirements of this bill, even if emergency loan and grant disbursement is not made in a proportion within five percentage points of the estimate, if the government can demonstrate it made a good faith effort to do so.