New York Senate Bill S00275 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 275 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sen. MARTINEZ -- read twice and ordered printed, and when printed to be committed to the Committee on Transportation AN ACT to amend the transportation law, in relation to maximum grant awards for airport improvement and revitalization The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (f) of subdivision 2 of section 14-l of the 2 transportation law, as amended by section 1 of part XX of chapter 59 of 3 the laws of 2021, is amended to read as follows: 4 (f) No grant or loan to any eligible applicant shall exceed the sum of 5 two million five hundred thousand dollars, and no part of any such grant 6 or loan shall be used for salaries or for services regularly provided by 7 the applicant for administrative costs in connection with such grant or 8 loan. Notwithstanding the foregoing, the maximum grant award may be 9 higher than the sum of two million five hundred thousand dollars when 10 the commissioner, in their discretion, determines that the total funds 11 available for assistance pursuant to this section supports a higher 12 maximum grant, not to exceed five million dollars. 13 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00876-01-5