On Tuesday, Governor Cuomo proposed legislation to waive taxes from money given through the COVID-19 Pandemic Small Business Recovery Grant Program.
The Program was passed in the state budget in April. It includes $800 million dollars to be given in direct grants to small business, micro business, and for-profit independent arts and cultural organizations.
The funds can be used for a number of business and COVID-related expenses, like payroll, rent, or ventilation upgrades required to comply with COVID safety regulations.
Applications for the grant program open on June 10th, which also happens to be the last day of the state’s 2021 legislative session.
Before he can sign it into law, Cuomo’s proposed legislation will need to make it through the assembly and senate by the end of Thursday.