A Local Law to amend the administrative code of the city of New York, in relation to the equitable distribution of emergency funding by borough

Summary

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.

Official summary of legislation · NYC Council