2023 New York Laws › COM - Economic Development Law › Article 10 - International Trade › 225 - 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