Int 2451-2021

Be it enacted by the Council as follows: Section 1. Chapter 10 of title 22 of the administrative code of the city of New York is amended by adding a new section 22-1007 to read as follows: � 22-1007 Small businesses eligible for COVID-19 financial assistance. a. Definitions. For the purposes of this section, the following term has the following meaning: Covered small business. The term "covered small business" means a business that is: (i) Small, in accordance with the size standards set forth in section 121.201 of title 13 of the code of federal regulations; (ii) Not a franchisee, as such term is defined in section 681 of the general business law; and (iii) Owned and operated by one or more persons, all of whom are income-eligible individuals. b. Provision of financial counseling services to covered small businesses. Subject to appropriation, the commissioner shall provide, at no cost to a covered small business, financial counseling and assistance for the purpose of assisting such covered small business in navigating any applicable processes for seeking COVID-19 pandemic related grants, loans or other financial assistance from federal, state or local government entities. c. Liaison. The department shall serve as a liaison between covered small businesses and any applicable federal, state or local government entity from which such businesses have requested COVID-19 pandemic related grants, loans or other financial assistance. Such liaison duties shall include, at a minimum, informing such businesses on a recurring basis of the status of their applications or requests for any such grants, loans or other financial assistance. � 2. This local law takes effect immediately. CP LS #17125 10/20/21 4:22 PM 1 2