224 – Rules and Regulations.
§ 224. Rules and regulations. The commissioner of economic development shall, in consultation with the comptroller, the commissioner of taxation and finance and the superintendent of financial services, promulgate rules and regulations necessary and reasonable for the operation of the program.
235 – Short Title.
§ 235. Short title. This article shall be known and may be cited as the “water pollution control linked deposit program act”.
236 – Definitions.
§ 236. Definitions. When used in this article, unless the context clearly indicates otherwise, the following terms shall have the following meanings: 1. “Corporation” means the New York state environmental facilities corporation, as continued by section twelve hundred eighty-two of the public authorities law. 2. “Eligible borrower” means any recipient, including any entity receiving or […]
237 – Establishment and Purpose; Water Pollution Control Linked Deposit Program Authorization.
§ 237. Establishment and purpose; water pollution control linked deposit program authorization. The water pollution control linked deposit program is hereby created. The purpose of this program is to encourage and assist eligible borrowers within the state to undertake eligible projects that reduce, control or prevent water pollution. The corporation is hereby authorized to use […]
238 – Linked Loans.
§ 238. Linked loans. Linked loans shall be made by lenders pursuant to the program only to eligible borrowers in connection with eligible projects. No such loans shall be made after September thirtieth, two thousand eleven. The credit decisions for making a linked loan shall be made solely by the lender.
239 – Linked Loans Interest Rate; Limitation on Lender’s Fees.
§ 239. Linked loans interest rate; limitation on lender’s fees. 1. Linked loans shall bear interest at the linked loan interest rate. Lenders shall certify to the corporation that the linked loan interest rate is below the interest rate the lender would have charged for the loan in the absence of a linked deposit. 2. […]
214 – Establishment and Purpose; Linked Deposit Program Authorization.
§ 214. Establishment and purpose; linked deposit program authorization. The excelsior linked deposit program is hereby created. The purpose of the program is to encourage and assist eligible businesses within the state to undertake eligible projects that will materially contribute to improving their performance and competitiveness. The comptroller is hereby authorized to use any moneys […]
215 – Responsibilities of Commissioner of Economic Development, Comptroller, Commissioner of Taxation and Finance and Superintendent of Financial Services.
§ 215. Responsibilities of commissioner of economic development, comptroller, commissioner of taxation and finance and superintendent of financial services. 1. The commissioner of economic development shall administer the program pursuant to section two hundred nineteen of this article, including all decisions with respect to the application and use of the program for eligible projects; market […]
216 – Term of Program.
§ 216. Term of program. 1. The program shall exist for a term which expires on the date this article expires pursuant to chapter seven hundred five of the laws of nineteen hundred ninety-three which added this article. Linked loans may be made only during the term of the program and linked deposits shall mature […]
217 – Linked Loans.
§ 217. Linked loans. Linked loans shall be made by lenders pursuant to the program only to eligible businesses in connection with eligible projects. A linked loan shall be limited to a maximum amount of four million dollars. An eligible business may receive more than one linked loan. During the life of the linked loan […]