Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 17, 2011 |
signed chap.484 |
Aug 05, 2011 |
delivered to governor |
Jun 15, 2011 |
returned to senate passed assembly ordered to third reading rules cal.239 substituted for a8103a |
Jun 13, 2011 |
referred to banks delivered to assembly passed senate |
Jun 06, 2011 |
advanced to third reading |
Jun 02, 2011 |
2nd report cal. |
Jun 01, 2011 |
1st report cal.907 |
May 25, 2011 |
referred to banks |
Senate Bill S5478
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R, C) 53rd Senate District
Archive: Last Bill Status - Signed by Governor
- 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
Actions
Votes
co-Sponsors
(R, C, IP) Senate District
2011-S5478 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8103
- Law Section:
- Banks
- Laws Affected:
- Amd ยง4, Chap 526 of 1998
2011-S5478 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5478 TITLE OF BILL: An act to amend chapter 526 of the laws of 1998, amending the banking law relating to participation in the banking development districts program, in relation to extending the effectiveness of certain provisions thereof PURPOSE: To extend, for an additional five years, the provisions of Chapter 526 of 1998 which authorize savings institutions to participate in the Banking Development District program. SUMMARY OF PROVISIONS: The bill amends the effective date of Chapter 526 of 1998 to extend the provisions of this law for another 5 years (to January 1, 2017). JUSTIFICATION: The Banking Development District Program was created in 1997. This program enables municipalities to offer certain incentives in order to encourage the establishment of bank branches in underserved areas. Under the program, a municipality and a banking institution may jointly apply to designate a "Banking Development District." By establishing a branch in such a district, the bank would be eligible -- at local and state option -- to receive municipal and state deposits at reduced rates, and to receive a partial exemption on
2011-S5478 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5478 2011-2012 Regular Sessions I N S E N A T E May 25, 2011 ___________ Introduced by Sens. GRIFFO, FARLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend chapter 526 of the laws of 1998, amending the banking law relating to participation in the banking development districts program, in relation to extending the effectiveness of certain provisions thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 4 of chapter 526 of the laws of 1998, amending the banking law relating to participation in the banking development districts program, as amended by chapter 300 of the laws of 2004, is amended to read as follows: S 4. This act shall take effect on the first day of January next succeeding the date on which it shall have become a law and shall remain in effect until January 1, [2012] 2017 when upon such date it shall expire and be deemed repealed; provided however that any branch estab- lished prior to the expiration and repeal of this act by a savings bank, savings and loan association, federal savings bank or federal savings and loan association in a banking development district pursuant to this act shall continue to operate in accordance with this act and remain eligible for all the rights and privileges authorized by this act. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11838-01-1
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