Assembly Bill A5883

2015-2016 Legislative Session

Establishes the New York state infrastructure development bank; appropriation

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Archive: Last Bill Status - In Assembly 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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2015-A5883 (ACTIVE) - Details

See Senate Version of this Bill:
S6296
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Add Art 17 §§9100 - 9109, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A11705
2011-2012: A5795
2013-2014: A126
2017-2018: A8578, A9695, S145, S7077
2019-2020: A4826, S2324
2021-2022: A433, S2909
2023-2024: S2965

2015-A5883 (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.

2015-A5883 (ACTIVE) - Bill Text download pdf

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

                                  5883

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              March 5, 2015
                               ___________

Introduced by M. of A. KAVANAGH, WEPRIN -- read once and referred to the
  Committee on Banks

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.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04394-01-5
              

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