A 9292 New York Assembly · 2025 Regular Session

Requires uniform criteria for evaluation and selection of grants and loans by the New York state industrial development agency

Summary

Relates to loans and grants by industrial development agencies; requires uniform criteria for evaluation and selection of an eligible entity for a loan; defines terms; outlines such criteria.

Bill status in committee 1 of 4 stages cleared

Introduction

Dec 2025

Committee Review

Floor Vote

Governor

Introduced Dec 10, 2025 Last action May 5, 2026

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What changed between versions

A9292 → A9292A · 4 edits

MODERATE

This amendment updates the bill to clarify that 'small business' eligibility includes part-time employees who collectively work at least 35 hours per week. It also significantly increases the maximum funding amount from $25,000 to $100,000 per project and over a ten-year period, while adding new requirements for agencies to establish policies for recovering funds if a project fails.

Scope change

The bill's scope expanded to explicitly include part-time workers in employee counts and increased the financial scope of available grants and loans.

ELIGIBILITY

The definition of 'small business' and 'eligible entity' was updated to count 'full-time or equivalent employees,' where equivalent employees are defined as part-time workers totaling at least 35 hours per week.

FISCAL

The maximum funding limit was raised from $25,000 to $100,000 for a single project, and the total cap for an entity was raised to $100,000 over a ten-year period.

REQUIREMENT

New requirements mandate that agencies create specific policies for returning all or part of a grant or loan if eligibility changes or the project experiences material shortfalls.

The criteria for selecting eligible entities were expanded to require a plan for using funds specifically for 'qualified projects' such as capital improvement and business expansion.

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 5, 2026

Lower · Passed

PRINT NUMBER 9292A

lower

May 5, 2026

Lower · Passed

AMEND AND RECOMMIT TO LOCAL GOVERNMENTS

lower

Jan 7, 2026

Committee

REFERRED TO LOCAL GOVERNMENTS

lower

Dec 10, 2025

Committee

REFERRED TO LOCAL GOVERNMENTS

lower

1 primary · 1 co-sponsor