---
type: "Bill"
title: "Allows businesses to use funds received from the minority and women-owned business development and lending program for the purpose of refinancing existing debt"
description: "Allows businesses to use funds received from the minority- and women-owned business development and lending program for the purpose of refinancing existing debt."
jurisdiction: "us/states/ny"
legislature: "New York Legislature"
session: "2021-2022"
identifier: "S 571"
citation: "New York S 571 (2021-2022)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["SANDERS"]
version_count: 1
action_count: 23
vote_count: 5
first_action: "2021-01-06"
last_action: "2022-10-06"
source: "openstates"
source_identifier: "ocd-bill/73e9ce9b-cf66-4552-8cb0-a4388ab393f9"
source_url: "http://www.nysenate.gov/legislation/bills/2021/S571"
source_hash: "a447238488bae7f6902d36042325b2ca240829aa0bf7e33510b32ce01b8cad57"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ny"]
---

# New York S 571 (2021-2022) — Allows businesses to use funds received from the minority and women-owned business development and lending program for the purpose of refinancing existing debt

Allows businesses to use funds received from the minority- and women-owned business development and lending program for the purpose of refinancing existing debt.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **S571** (committee substitute) — [source](http://assembly.state.ny.us/leg/?sh=printbill&bn=S571&term=2021&Text=Y)

## Votes

- Floor Vote — **63–0** (pass) · upper
- Corporations, Authorities And Commissions Vote — **7–0** (pass) · upper
- Assembly Vote — **148–0** (pass) · lower
- Floor Vote — **63–0** (pass) · upper
- Corporations, Authorities And Commissions Vote — **7–0** (pass) · upper

## Sponsors

- SANDERS — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2021-01-06** REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS `referral-committee`
- **2021-02-09** 1ST REPORT CAL.319
- **2021-02-10** 2ND REPORT CAL.
- **2021-02-22** ADVANCED TO THIRD READING
- **2021-03-10** PASSED SENATE `passage`
- **2021-03-10** DELIVERED TO ASSEMBLY
- **2021-03-10** REFERRED TO ECONOMIC DEVELOPMENT `referral-committee`
- **2022-01-05** DIED IN ASSEMBLY
- **2022-01-05** RETURNED TO SENATE
- **2022-01-05** REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS `referral-committee`
- **2022-01-25** 1ST REPORT CAL.326
- **2022-01-26** 2ND REPORT CAL.
- **2022-01-31** ADVANCED TO THIRD READING
- **2022-02-01** PASSED SENATE `passage`
- **2022-02-01** DELIVERED TO ASSEMBLY
- **2022-02-01** REFERRED TO ECONOMIC DEVELOPMENT `referral-committee`
- **2022-05-24** SUBSTITUTED FOR A6420
- **2022-05-24** ORDERED TO THIRD READING RULES CAL.402
- **2022-05-24** PASSED ASSEMBLY `passage`
- **2022-05-24** RETURNED TO SENATE
- **2022-10-05** DELIVERED TO GOVERNOR `executive-receipt`
- **2022-10-06** SIGNED CHAP.568 `executive-signature`
- **2022-10-06** APPROVAL MEMO.19

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/73e9ce9b-cf66-4552-8cb0-a4388ab393f9`. Confidence: reported (aggregated from official New York legislature records).