senate Bill S8481

2009-2010 Legislative Session

Establishes the New York state infrastructure development bank; appropriation

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Sep 08, 2010 referred to finance

S8481 (ACTIVE) - Details

See Assembly Version of this Bill:
A11705
Current Committee:
Senate Finance
Law Section:
Appropriations
Laws Affected:
Add Art 17 ยงยง9100 - 9109, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: S1654, A5795
2013-2014: A126
2015-2016: A5883
2017-2018: A8578, A9695
2019-2020: A4826

S8481 (ACTIVE) - Summary

Establishes the New York state infrastructure development bank within the banking department, makes a $250,000,000 appropriation therefor and provides for the expiration thereof upon its repeal in 15 years.

S8481 (ACTIVE) - Sponsor Memo

S8481 (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8481

                            I N  S E N A T E

                            September 8, 2010
                               ___________

Introduced  by  Sen.  C. JOHNSON  -- read twice and ordered printed, and
  when printed to be committed to the Committee on Finance

AN ACT to amend the banking law, in relation  to  establishing  the  New
  York  state  infrastructure  development bank; making an appropriation
  therefor; and providing for the repeal of such provisions upon expira-
  tion thereof

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Short  title. This act shall be known and may be cited as
the "New York state infrastructure development bank act".
  S 2. The banking law is amended by adding a new article 17 to read  as
follows:
                               ARTICLE 17
             NEW YORK STATE INFRASTRUCTURE DEVELOPMENT BANK
SECTION 9100. DEFINITIONS.
        9101. ESTABLISHMENT.
        9102. BOARD OF DIRECTORS; POWERS AND DUTIES.
        9103. EXECUTIVE COMMITTEE.
        9104. RISK MANAGEMENT COMMITTEE.
        9105. AUDIT COMMITTEE.
        9106. ELIGIBILITY CRITERIA AND ASSISTANCE.
        9107. EXEMPTION FROM LOCAL TAXATION.
        9108. STATUS  AND  APPLICABILITY  OF  CERTAIN FEDERAL LAWS; FULL
                FAITH AND CREDIT.
        9109. AUDITS AND REPORTS.
  S 9100. DEFINITIONS. FOR THE PURPOSES OF THIS ARTICLE:
  1. THE TERM "BANK" SHALL MEAN THE NEW YORK STATE INFRASTRUCTURE DEVEL-
OPMENT BANK ESTABLISHED PURSUANT TO THIS ARTICLE.
  2. THE TERM "BOARD" SHALL  MEAN  THE  NEW  YORK  STATE  INFRASTRUCTURE
DEVELOPMENT  BANK BOARD ESTABLISHED UNDER SECTION NINETY-ONE HUNDRED TWO
OF THIS ARTICLE.
  3. THE TERM "CHIEF ASSET AND LIABILITY MANAGEMENT OFFICER"  MEANS  THE
CHIEF  INDIVIDUAL  RESPONSIBLE FOR COORDINATING THE MANAGEMENT OF ASSETS
AND LIABILITIES OF THE BANK.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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