Relates to financial assistance to small businesses for the purpose of pollution prevention, control and compliance

This bill creates a "Small Business Environmental Fund" managed by New York State's urban development corporation to help small businesses obtain loans for pollution prevention and environmental compliance. The fund guarantees up to 90% of loans (capped at $500,000) from financial institutions, targeting businesses that struggle to secure traditional financing for pollution control equipment or compliance activities. It prioritizes small businesses in distressed areas, minority-owned, women-owned, or those complying with new federal/state environmental laws like the Clean Air Act. The fund uses state appropriations, loan fees, and federal funds to provide this credit support without requiring direct state lending.