Senate Bill S2041

2023-2024 Legislative Session

Establishes a limitation on financial services assessments and appropriation suballocations

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Banks Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S2041 (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Financial Services Law
Laws Affected:
Add §208, Fin Serv L
Versions Introduced in 2021-2022 Legislative Session:
S9523

2023-S2041 (ACTIVE) - Summary

Establishes a limitation on financial services assessments and appropriation suballocations; requires that money obtained from assessments shall only be used to defray operating expenses of the department of financial services.

2023-S2041 (ACTIVE) - Sponsor Memo

2023-S2041 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2041
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 18, 2023
                                ___________
 
 Introduced  by  Sen. TEDISCO -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks
 
 AN ACT to amend the financial services law, in relation to a  limitation
   on financial services assessments and appropriation suballocations
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The financial services law  is  amended  by  adding  a  new
 section 208 to read as follows:
   §  208. LIMITATION ON FINANCIAL SERVICES ASSESSMENTS AND APPROPRIATION
 SUBALLOCATIONS. NOTWITHSTANDING ANY OTHER LAW,  MONEY  OBTAINED  BY  THE
 DEPARTMENT  FROM  ASSESSMENTS  ON  BANKING  AND  INSURANCE ORGANIZATIONS
 PURSUANT TO SECTION TWO HUNDRED SIX OF THIS ARTICLE SHALL  NOT  BE  USED
 FOR  ANY  PURPOSE OTHER THAN TO DEFRAY OPERATING EXPENSES, INCLUDING ALL
 DIRECT AND INDIRECT COSTS,  OF  THE  DEPARTMENT.  SPECIAL  REVENUE-OTHER
 FUNDS  APPROPRIATION  SUBALLOCATIONS TO OTHER AGENCIES FOR NON-INSURANCE
 OR BANKING PROGRAMS AND OPERATIONS SHALL NOT BE MADE OUT OF  THE  AMOUNT
 APPROPRIATED  TO  THE  DEPARTMENT PURSUANT TO SECTION TWENTY-FOUR OF THE
 STATE FINANCE LAW.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06472-01-3

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