(a) To the extent permitted by law, all information regarding the financial condition, marketing plans, manufacturing processes, production costs, customer lists, or other trade secrets and proprietary information of a person or entity requesting assistance from the corporation, which is submitted by such person or entity to the corporation in connection with an application for assistance, shall be confidential and exempt from public disclosures.

(b) To the extent permitted by law, no full-time employee of the State of New York or any agency, department, authority or public benefit corporation thereof shall be eligible to receive assistance under this program, nor shall any business, the majority ownership interest of which is beneficially controlled by any such State employee, be eligible for assistance under this program.