2006 New York Code - Export Finance Service

 
    *  §  225.  Export  finance  service.  1. Definitions. As used in this
  section, the following terms shall have the following meanings, unless a
  different meaning appears from the context:
    (a) "Export finance" shall mean pre-order financing to support  market
  development  activities  prior  to  an  export  sale, working capital to
  support the acquisition of inventory and other expenditures  to  finance
  the  production  of  goods  for export, accounts receivable financing to
  cover the costs between shipping goods and  receiving  payment  from  an
  export  sale,  customer  financing  to  provide  medium  and  long  term
  financing to foreign buyers, and export insurance to insure sellers  and
  buyers for risks associated with export transactions.
    (b) "Public  and  private  organizations" shall mean commercial banks,
  insurance   companies,   the   small   business   administration,    the
  export-import  bank  of  the United States, the New York job development
  authority, the port authority of New York and New Jersey, the  New  York
  business  development  corporation, other international, federal, state,
  regional  and  local  economic  development  organizations   and   other
  organizations  identified  by the commissioner as potential providers of
  export finance.
    2. Establishment. The commissioner is hereby authorized  to  establish
  an  export  finance  service  within  the  department  for  the purposes
  specified in this section.
    3. Purposes. The purposes of the export finance service shall be:
    (a) to promote and increase the provision of  export  finance  in  New
  York by public and private organizations;
    (b)  to assist New York exporters and potential exporters in obtaining
  export finance from public and private organizations;
    (c) to develop a directory of export finance  programs  in  the  state
  available from public and private organizations;
    (d)  to  provide intermediary services to match New York exporters and
  potential exporters  with  export  finance  available  from  public  and
  private organizations;
    (e)  to  encourage  public and private organizations to provide export
  finance to New York exporters and potential exporters; and
    (f) to identify sources of expertise in the public and private sectors
  to assist New York exporters or potential exporters in obtaining  export
  finance,  and  provide such exporters or potential exporters with a list
  of such sources of expertise.
    4. Reporting. On or before October first, nineteen hundred  ninety-one
  and on or before October first of each year thereafter, the commissioner
  shall  report  to  the governor and the legislature on the operation and
  accomplishments of the export finance service.
    5. Evaluation. The commissioner shall submit to the  director  of  the
  division of the budget, the chairman of the senate finance committee and
  the  chairman  of the assembly ways and means committee an evaluation of
  the export finance service prepared by  an  entity  independent  of  the
  department.    Such  an  evaluation  shall  be  submitted  on  or before
  September first, nineteen hundred ninety-two and on or before  September
  first every two years thereafter.
    6.  Rules and regulations. The commissioner shall promulgate rules and
  regulations to accomplish the purposes of this section.
    * NB Section effective insofar as it pertains to the Port Authority of
  New York and New Jersey upon passage  of  same  as  legislation  by  New
  Jersey